Howard Rubin, former financier, arrested for alleged sex trafficking in NYC penthouse

 September 27, 2025

Shocking allegations have surfaced against Howard Rubin, a 70-year-old former financier with ties to Soros Fund Management, who was arrested on charges of sex trafficking for allegedly operating a disturbing BDSM "sex dungeon" in a Midtown penthouse.

Federal prosecutors claim Rubin lured dozens of women to New York City between 2009 and 2019, subjecting them to abusive sexual acts beyond their consent, often ignoring safe words and causing severe physical and psychological harm, as New York Post reports.

Rubin, a renowned money manager, worked as a portfolio manager at Soros Fund Management from 2008 to 2015. During much of this period, starting in 2009, he allegedly began enticing women to travel to New York for encounters that turned violent.

Disturbing Allegations of a Hidden Dungeon

Between 2011 and 2017, Rubin leased a penthouse in Midtown for $18,000 a month, where he reportedly maintained a soundproofed room equipped with devices used to inflict pain on women. The women, many of whom were former Playboy models in financial distress, were allegedly given drugs and alcohol during these encounters.

Prosecutors say Rubin paid these women around $5,000 per session, though sometimes less if he was displeased with the encounter. Financial transactions were structured in ways to avoid detection, according to the charges.

Rubin’s actions reportedly continued for a decade, with victims claiming they were restrained and tortured, sometimes to the point of unconsciousness. Federal authorities allege that he disregarded agreed-upon boundaries, pushing the abuse far beyond consent.

Assistant Charged in Recruitment Scheme

Alongside Rubin, his assistant Jennifer Powers faces charges for her role in recruiting women for these encounters. Powers was arrested in Texas and is awaiting extradition to New York.

Text exchanges between Rubin and Powers, as revealed by prosecutors, paint a chilling picture of their dynamic. In one message, Powers asked Rubin, “I can only imagine what you did to her on that cross!!! Did you shock her p—y??”

Rubin reportedly replied that he did, but noted his device was "losing strength." Another text from Rubin, cited by authorities, showed his apparent indifference to a woman’s distress, stating, “I don’t care if she screams.”

Legal Battles and Financial Concerns

Brooklyn U.S. Attorney Joseph Nocella condemned the alleged actions, stating, “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.”

Rubin has pleaded not guilty to the charges but was held without bail due to being considered a flight risk. Authorities noted he has at least $74.4 million in assets in the Cayman Islands, raising concerns about his potential to flee.

In addition to sex trafficking, Rubin faces a bank fraud charge related to financing a mortgage for Powers. This adds another layer of legal trouble to his already mounting issues.

Past Lawsuits and Ongoing Fallout

This is not the first time Rubin has faced accusations of abuse. Prior civil lawsuits from women claiming mistreatment resulted in jury awards and legal fee orders against him, signaling a pattern of alleged misconduct.

The current federal charges, however, mark a significant escalation, as they involve criminal allegations of sex trafficking over a prolonged period. The case has drawn intense scrutiny due to Rubin’s high-profile financial background and the severity of the accusations.

As the legal process unfolds, the stories of the women allegedly victimized by Rubin continue to emerge, shedding light on a dark chapter hidden behind wealth and privilege. The outcome of this case could have far-reaching implications for Rubin and others implicated in the investigation.