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Wealthy financier Howard Rubin charged in penthouse sex dungeon, torture scheme, held without bail
By Molly Crane-Newman and Kerry Burke | September 26, 2025
Wall Street multimillionaire Howard Rubin was arrested Friday on charges alleging he psychologically and sexually brutalized women inside luxury hotels and a Midtown "sex dungeon" with help from his assistant in a years long sex trafficking scheme.
The famous financier was picked up by the feds in Fairfield, Conn., in an early morning bust and arraigned later Friday in Brooklyn federal court on a bombshell 10-count indictment, which accuses him of sex trafficking and transporting people for prostitution, stemming from allegations by at least nine women. Rubin's personal assistant, Jennifer Powers, 45, was arrested in Texas for allegedly facilitating "all aspects" of his abuse as his right-hand.
By Molly Crane-Newman and Kerry Burke | September 26, 2025
Wall Street multimillionaire Howard Rubin was arrested Friday on charges alleging he psychologically and sexually brutalized women inside luxury hotels and a Midtown "sex dungeon" with help from his assistant in a years long sex trafficking scheme.
The famous financier was picked up by the feds in Fairfield, Conn., in an early morning bust and arraigned later Friday in Brooklyn federal court on a bombshell 10-count indictment, which accuses him of sex trafficking and transporting people for prostitution, stemming from allegations by at least nine women. Rubin's personal assistant, Jennifer Powers, 45, was arrested in Texas for allegedly facilitating "all aspects" of his abuse as his right-hand.
At his arraignment, Rubin pleaded not guilty. Brooklyn federal Judge Peggy Kuo ordered him remanded without bail, calling him a flight risk and a continued danger to the community.
"This is a very serious set of allegations. He was allegedly involved in very violent behavior and faces very serious criminal penalties," Kuo said, also citing Rubin's alleged attempts to intimidate his accusers, including hiring a hitman on the Dark Web, in her reasons for denying bail.
The feds say that from 2009 to 2019, the 70-year-old retired money manager and Powers lured Playboy models and other women to the city under false pretenses, to torture and leave "deformed" after bondage, discipline, dominance, submission and sadomasochism sessions, known as BDSM.
Among several distressing incidents alleged in court docs are details of Rubin raping women after they had fallen unconscious or were unable to give consent because they were "gagged and thus unable to coherently speak."
In a letter to Judge Kuo ahead of Rubin's appearance, the feds said the weight of their evidence was "strong" and asked that the divorced financier, who has lived alone in Connecticut since 2022, remain jailed before trial, referencing $74.4 million he has stored in a Cayman Islands account.
They said Powers, who has made millions working for Rubin, yet has never reported wages to the IRS, should be detained on a significant bail package untied to Rubin’s wealth after she's transported to New York in the coming days.
The abuse mostly took place at luxury hotels in Manhattan before Rubin began leasing the 76th-floor penthouse on W. 57th St. in 2011, where he and Powers transformed one of its two bedrooms into a "sex dungeon," painted red, soundproofed, storing an electrocution device, and regularly stocked by Powers with other BDSM equipment, court docs say.
"I've put chains on the four points of your cross and four points of the Dungeon bed. On the end of each chain is a cuff," Powers is quoted telling Rubin, a July 2012 email referenced in Friday's filings.
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