News Summary
Howard Rubin, a 70-year-old retired financier, and his assistant, Jennifer Powers, face serious charges of sex trafficking in New York City. Both have been indicted for transporting women to a sex dungeon for commercial sex acts, with allegations of brutal physical harm and exploitation. Rubin, once a notable figure in finance, is held without bail due to concerns over public safety and flight risk. Prosecutors are investigating a potential wider network of trafficking and have urged additional victims to come forward.
New York City – Howard Rubin, a 70-year-old retired financier, was arraigned on Friday and held without bail on charges of sex trafficking. Rubin’s personal assistant, Jennifer Powers, 45, was also charged alongside him in a 10-count indictment. The indictment alleges that Rubin and Powers transported women to a “sex dungeon” in a New York penthouse for commercial sex acts. Rubin pleaded not guilty to the charges.
Magistrate Judge Kuo rejected a bail application for Rubin, citing concerns for public safety and flight risk, despite a proposed $25 million bond. The allegations suggest that the women were subjected to bondage, discipline, dominance, submission, and sadomasochism (BDSM) acts, with Rubin allegedly inflicting brutal physical harm that resulted in significant pain and injuries requiring medical attention.
The FBI reported that Rubin and Powers financed a national trafficking network, spending over $1 million to commercialize sexual torture. Rubin allegedly exploited his wealth and status to entice victims, often using threats of legal repercussions to silence them. Reports have indicated that the two encouraged the use of drugs and alcohol to impair the women’s ability to consent to the acts.
The encounters reportedly occurred in luxury hotels and a converted two-bedroom penthouse, transformed into a soundproofed “sex dungeon.” Prosecutors indicated that Rubin possessed devices capable of shocking or electrocuting women during these encounters. The indictment also outlines that Rubin used non-disclosure agreements (NDAs) to intimidate victims, requiring them to assume risks and refrain from disclosing any encounters.
It was reported that Rubin and Powers required women to sign NDAs without providing copies and under circumstances where the victims were often under the influence of drugs or alcohol. Following a civil suit in 2017, a jury found Rubin liable for sex trafficking, awarding victims a total of $3.85 million; Powers was not held liable in that case.
Rubin’s history in finance includes notable positions at Salomon Brothers, Merrill Lynch, Bear Stearns, and Soros Fund Management. However, he was previously notorious for unauthorized trading at Merrill Lynch, resulting in $250 million in losses and leading to his dismissal. His arrest occurred in Fairfield, Connecticut, while Powers was apprehended in Southlake, Texas.
Both defendants face a maximum sentence of life in prison if convicted of sex trafficking, with a mandatory minimum of 15 years. Evidence has emerged of witness tampering and intimidation efforts by Rubin, who allegedly discussed hiring a hitman against women suing him. Concerns have also arisen due to Rubin being found in possession of eight cell phones during his arrest, which raises fears about his ability to evade law enforcement.
The case is ongoing, with Rubin’s next court appearance scheduled for October 20, while Powers is set to appear in U.S. District Court for the Northern District of Texas next week. Prosecutors have expressed concerns about potential additional victims and are calling for anyone with information to come forward.
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Additional Resources
- CNBC: Howard Rubin Arrested for Sex Trafficking
- Wikipedia: Sex Trafficking
- The Guardian: Howard Rubin Arrested on Charges
- Google Search: Howard Rubin Sex Trafficking
- New York Post: Victim Celebrates Rubin’s Arrest
- Google Scholar: Sex Trafficking Law
- New York Times: Howard Rubin’s Penthouse Charges
- Encyclopedia Britannica: Sex Traffic
- CBS News: Financier Howie Rubin Accused
- Google News: Howie Rubin
Author: STAFF HERE NEW YORK WRITER
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