Warning: This article contains discussion of sexual assault which some readers may find distressing.
A former New York financier and his assistant have been apprehended in connection with allegedly orchestrating a sex trafficking network that spanned over a decade.
Howard Rubin, once an investment banker, along with his assistant Jennifer Powers, were taken into custody on Friday, September 26, following an indictment in a federal court in Brooklyn.
The allegations against them include sex trafficking, interstate transportation for sexual activities, and bank fraud charges against Rubin.
Rubin, who is now 70 and retired, amassed his fortune working in the finance sector in New York City, notably for Soros Fund Management.
Powers, who previously worked as a substitute teacher, became Rubin’s personal assistant around 2011 and is accused of overseeing the logistical elements of their illicit operation.
It is alleged that between 2009 and 2019, the pair deceived women, including Playboy models, luring them to New York City and coercing them into non-consensual sexual encounters.
The victims were reportedly taken to either opulent hotels or Rubin’s penthouse ‘sex dungeon,’ described as being soundproof, painted red, and furnished with BDSM restraints and items, including a device used to electrocute women’s genitals.
Joseph Nocella, United States Attorney, stated, as per the accusations, that Rubin and Powers exploited his wealth ‘to deceive and recruit women to partake in commercial sex acts,’ during which Rubin allegedly inflicted ‘severe pain beyond their consent.’
This resulted in ‘lasting physical and psychological harm, and in some instances, physical injuries.’
The women were allegedly required to sign a non-disclosure agreement and were threatened with legal consequences if they breached it.
It is estimated that no less than $1 million was spent on airfare, payments, and maintaining the operation.
The accused reportedly made payments through wire transfer, PayPal, or Venmo, deliberately keeping amounts under $10,000 to bypass bank reporting regulations.
Rubin is also accused of trafficking a woman in Las Vegas in 2018, employing ‘force, fraud, and coercion.’
Despite ongoing lawsuits against him, Rubin allegedly misled a bank by denying any involvement in legal proceedings. This deception was intended to secure a mortgage for Powers’s home in Texas, which he was financially assisting with.
If found guilty under the sex-trafficking charges, Rubin could face a mandatory minimum sentence of 15 years, with the possibility of a life sentence.
The bank fraud charge carries a separate potential maximum sentence of up to 30 years.
Some of the alleged victims initiated legal action against Rubin and Powers in 2017. A jury determined that only Rubin was liable and awarded the women $3.9 million.
Rubin is currently appealing the decision.
If you’ve been affected by any of the issues discussed in this article, you can reach out to The National Sexual Assault Hotline at 800.656.HOPE (4673), available around the clock. Alternatively, you can chat online at online.rainn.org.