Retired New York financier Howard Rubin and his former personal assistant, Jennifer Powers, were indicted Friday on federal charges for allegedly operating a violent, decade-long sex trafficking ring, prosecutors said.
Rubin, 70, and Powers, 45, were charged with sex trafficking and transporting women across state lines for commercial sex acts. Rubin was additionally charged with bank fraud, after prosecutors said he lied to financial institutions to help secure Powers’ mortgage.
The indictment, unsealed by the U.S. Attorney’s Office for the Eastern District of New York, paints a disturbing picture of systematic abuse masked behind the guise of BDSM. Prosecutors say Rubin used his wealth and influence to lure dozens of women into encounters where the violence exceeded any consent and left long-term physical and emotional trauma.
According to U.S. Attorney Joseph Nocella Jr., Rubin “used his wealth to mislead and recruit women… then tortured [them] beyond their consent, causing lasting physical and psychological pain.”
From 2009 to 2019, Rubin allegedly paid women thousands per session—up to $5,000 if he was “satisfied,” and less if not. Powers allegedly managed the operations between 2011 and 2019, handling travel arrangements, nondisclosure agreements, and even sourcing BDSM equipment and paying the women with Rubin’s money.
The indictment claims over $1 million of Rubin’s funds went toward maintaining the trafficking operation, which began in luxury hotels and later moved to a soundproofed “sex dungeon” in a Central Park penthouse. The room reportedly featured locking doors, red paint, shock devices, and other BDSM apparatus.
Despite agreements, Rubin is accused of ignoring safe words, binding and gagging women, and continuing acts even when they were unconscious or in clear distress. One woman reportedly needed surgery after a violent encounter caused her breast implant to flip.
When women reported injuries, Powers allegedly downplayed the abuse, telling them to apply cream or ice and attributing Rubin’s violence to alcohol. Both are also accused of encouraging the use of alcohol and sedatives, further compromising the women’s ability to consent.
Victims were allegedly found via social media, modeling sites, and high-end escort networks, with Rubin and Powers concealing the level of violence involved.
After each encounter, Rubin would reportedly describe the abuse in detail to Powers, who then managed post-encounter communication with the victims to mitigate backlash.
Rubin allegedly financed every aspect of Powers’ life—from paying her Manhattan rent to covering her children’s private school tuition and buying a home in Texas. From 2018 to 2023, Powers lived entirely off Rubin’s money, prosecutors said.
Rubin, who previously worked at Merrill Lynch, Bear Stearns, and Soros Fund Management, reportedly has $74.4 million in a Cayman Islands account. Prosecutors are requesting he be held without bail, citing flight risk and public danger.
“Human beings are not chattel to be exploited for sex and sadistically abused,” said U.S. Attorney Nocella. “Anyone who thinks otherwise can expect to find themselves in handcuffs.”
Rubin was arrested in Connecticut, and Powers in Texas. Their attorneys have not commented on the charges.
