Former Wall Street heavyweight Howard Rubin was taken into custody Friday morning in Connecticut, sending shockwaves through both finance and legal circles. Federal prosecutors unsealed a ten-count indictment accusing Rubin of running a decade-long sex trafficking ring and even converting a Manhattan penthouse into a soundproof “sex dungeon.” His longtime assistant, Jennifer Powers, was arrested the same day in Texas. The Justice Department says Rubin could face life behind bars if convicted.
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Quick Summary:
• Ex-financier Howard Rubin indicted on 10 federal charges including sex trafficking and bank fraud.
• DOJ alleges he ran a trafficking ring from 2009–2019, luring women to a Midtown “sex dungeon.”
• Arrested Sept 26, 2025 in Connecticut; assistant Jennifer Powers also arrested in Texas.
• Rubin could face life in prison if convicted.
Howard Rubin Indicted: Ex-Financier Arrested on Sex Trafficking Charges
September 26, 2025 — New York
In breaking news, former Wall Street money manager Howard Rubin was arrested Friday morning and hit with a sweeping indictment that includes sex trafficking, transporting women across state lines for prostitution, and bank fraud. Federal prosecutors say Rubin, 70, operated a secretive and violent trafficking network for nearly a decade. His longtime assistant, Jennifer Powers, faces the same charges.
The DOJ’s Allegations
The Department of Justice outlined chilling details: between 2009 and 2019 Rubin allegedly recruited and paid women—some former Playboy models—to travel to New York. Once there, prosecutors claim, he coerced them into sex acts, sometimes using violence and ignoring safe words. Some victims reportedly passed out from beatings or electrical shocks.
Rubin allegedly leased a Manhattan penthouse and converted a room into a soundproof sex dungeon
decorated in red and filled with bondage equipment. Prosecutors say victims were required to sign strict NDAs, but Rubin broke those contracts by escalating into non-consensual violence.
Charges and Possible Penalties
The indictment lists ten counts: multiple sex trafficking charges, transportation of women for commercial sex, conspiracy, and one count of bank fraud tied to Powers’s mortgage application in Texas. If convicted on the sex trafficking counts, Rubin faces a maximum of life in federal prison.
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Timeline of Key Events
| Date / Period | Event |
|---|---|
| 2009–2019 | Alleged operation of trafficking network across U.S. states |
| 2011 | DOJ says Rubin shifted activities into the Manhattan penthouse “dungeon” |
| 2017 | Civil lawsuits filed by several women; cases settled or awarded damages |
| Sept 26, 2025 | Rubin arrested in Connecticut; Powers arrested in Texas |
| Upcoming | Arraignment scheduled in Brooklyn federal court |
Who Is Howard Rubin?
Rubin was once a prominent bond trader at Salomon Brothers and later managed funds tied to billionaire George Soros. He appeared briefly in Michael Lewis’s Liar’s Poker. Despite his high-flying finance career, his name surfaced in tabloids years ago after women accused him of violent assaults during private encounters. In 2022, a New York jury ordered him to pay nearly $4 million in damages.
It’s important to note: this case involves financier Howard Rubin, not Dr. Howard A. Rubin, the technology author and consultant sometimes referenced online.
Media and Public Fallout
The indictment has already shaken Wall Street circles. Outlets including Reuters, the Wall Street Journal, and the New York Post are running front-page coverage. Legal analysts predict more women may come forward as the case unfolds, and the DOJ appears determined to send a strong message.
Period | Alleged Incidents ------------|------------------ 2009–2012 | 10+ 2013–2016 | 15–20 2017–2019 | 12
(Approximate counts based on federal filings and lawsuits)
What Happens Next
- Rubin to be arraigned in Brooklyn federal court within days
- Powers will face initial hearings in Texas before transfer to New York
- Defense expected to challenge victim credibility and consent issues
- Potential for more indictments or superseding charges if additional victims step forward
Both defendants are presumed innocent until proven guilty. Still, prosecutors say the evidence—digital communications, travel receipts, and victim testimony—is “extensive.”
(FAQs)
Who is Howard Rubin?
A former Wall Street financier, once with Salomon Brothers and linked to George Soros funds, now facing federal sex trafficking charges.
What are the main charges?
Sex trafficking, transporting women for prostitution, conspiracy, and bank fraud.
When was he arrested?
September 26, 2025, at his home in Fairfield, Connecticut.
What’s the “sex dungeon”?
Prosecutors say Rubin converted a penthouse room into a soundproof chamber with bondage equipment and an electric shock device.
What penalties could he face?
Up to life in prison on sex trafficking counts, plus decades more on bank fraud charges.
Is this the same person as Dr. Howard A. Rubin?
No. Dr. Howard A. Rubin is a tech consultant and author; the indictment involves financier Howard “Howie” Rubin.
