Federal prosecutors allege retired Wall Street mogul Howard Rubin used electrocution tools, restraints, and violence inside a Midtown penthouse ‘dungeon,’ torturing women for more than a decade
A retired New York financier identified as Howard Rubin, 70, and his former personal assistant Jennifer Powers, 45, were indicted in late September in the Eastern District of New York on ten criminal counts related to sex trafficking, interstate transportation for prostitution, and bank fraud. The indictment stems from allegations that the pair ran a decade long operation exploiting women for commercial sex acts, many involving bondage, discipline, dominance, submission and sadomasochism. Prosecutors also allege the sexual abuse was especially brutal. According to court filings, Rubin “used his wealth to mislead and recruit women to engage in commercial sex acts … where Rubin then tortured women beyond their consent, causing lasting physical and/or psychological pain, and in some cases physical injuries.” U.S. Attorney Joseph Nocella said in a statement. The indictment alleges that Rubin tortured women beyond their consent, detailing injuries like breast implants flipping upside down.
According to the U.S. Attorney’s Office for the Eastern District of New York, the scheme operated from at least 2009 through 2019. Rubin and Powers allegedly recruited dozens of women, including former Playboy models, by offering money and luxury travel, then transported them to hotel rooms and a Midtown Manhattan penthouse transformed into a sound proofed “sex dungeon” equipped with electrocution devices and restraints, painted all red.
The indictment states that at least $1 million of Rubin’s funds were used to finance and maintain the operation, including payments to women, travel costs, and security to enforce non-disclosure agreements. Alongside the trafficking charges, Rubin also faces a bank fraud count that prosecutors say is directly connected to civil judgments stemming from his 2017 lawsuits, where he was sued by 3 women for assault. The civil verdicts reportedly resulted in judgments awarding the plaintiffs between $620,000 and $750,000 each, and a total of more than $4 million in legal fees and damages. Rubin is accused of falsely representing this to a bank when seeking financing for his former assistant’s mortgage in Texas, that he was not a party to any civil litigation, which is false.
Prosecutors also allege the sexual abuse was especially brutal. According to court filings, Rubin “used his wealth to mislead and recruit women to engage in commercial sex acts … where Rubin then tortured women beyond their consent, causing lasting physical and/or psychological pain, and in some cases physical injuries.” U.S. Attorney Joseph Nocella said in a statement.
Rubin was arrested in late September at his home in Fairfield, Connecticut, while Powers was arrested in Texas. Both pleaded not guilty and are being held without bail; a magistrate judge ordered Rubin detained, characterizing him as a “serious flight risk” given his substantial assets, including offshore holdings. If convicted, Rubin and Powers face minimum sentences of 15 years and potentially life imprisonment for the sex trafficking counts alone.
The FBI and the U.S. Attorney’s Office said they anticipate more charges and additional victims as the investigation expands. They urged any individuals with information to come forward.