Howard Rubin former NYC money manager arrested on charges of sex trafficking and transporting women across state lines for commercial sex acts over the course of a decade

A retired New York City financier was arrested on Friday for allegedly trafficking former Playboy models and other women to a penthouse converted into a BDSM'sex dungeon,' according to federal authorities. 

Howard Rubin, 70, was arrested at his home in Fairfield, Connecticut, on a 10-count indictment for 'torturing women beyond their consent,' Brooklyn US Attorney Joseph Nocella said in a statement.

The former money manager, known as 'Howie' and 'H', is accused of running a large network that recruited women to fly to New York and 'perform sex acts' with him through fraud, force, or compulsion.

The money manager is alleged to have initially abused his victims at a luxury NYC hotel and then later at a two-bedroom penthouse that he morphed into a dungeon filled with BDSM equipment between 2009 and 2019, prosecutors stated in a 10 count indictment.

Pictured, Howard ‘Howie’ Rubin portfolio manager with long time wife, Mary Henry. Image via Facebook.

One of the bedrooms was soundproofed and painted red, and had a device that was used to shock or electrocute the women, federal prosecutors alleged.

‘During many such encounters, Rubin engaged in conduct beyond the scope of the women’s consent,’ the indictment in U.S. District Court in Brooklyn, New York, alleges.

‘During many of these encounters, Rubin brutalized women’s bodies, causing them to fear for their safety and/or resulting in significant pain or injuries, which at times required women to seek medical attention,’ the indictment charges.

Financier allegedly spent over $1 million on alleged sex trafficking scheme

The US Attorney's Office further claimed that Rubin kept a collection of non-disclosure agreements in a safe that he compelled the ladies to sign.  

Rubin's personal assistant, Jennifer Powers, 45, is also charged with sex trafficking for allegedly assisting her boss. She was arrested on Friday morning in Texas.

According to a detention letter written by the government, she allegedly assisted in recruiting and flying the victims — many of them were former Playboy models — into New York to have sex with Rubin.  

After the sexual encounters, Rubin or Powers allegedly paid the victims through a wire transfer or PayPal and Venmo, but staggered the payments to avoid sending $10,000 in a single shot, allowing them to remain under the radar, according to prosecutors.

Overall, it’s estimated at least $1 million of Rubin’s money was spent on the alleged sex trafficking.

Pictured Howard Rubin former money manager and wife, Mary.

The former high roller financier was set to be arraigned in Brooklyn Federal Court Friday afternoon.

Rubin and Powers are both facing charges of sex trafficking and transporting women in interstate commerce for sex acts.

Rubin was also hit with a federal bank fraud charge for allegedly offering misrepresentations made to a bank while financing Powers’ mortgage for a house in Texas she shared with her husband.   

‘As alleged, the defendants used Rubin’s 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, in some cases physical injuries,’ said Nocella.

Rubin according to the nypost is a retired Wall Street financier who previously managed money for the Soros Fund and other wealthy clients.

The money manager and former bond trader first gained public notoriety in 1987 for making unauthorized trades at Merrill Lynch, which the firm at the time said contributed to a massive $250 million loss from mortgage securities.