A former New York financier, Howard Rubin, and his ex-personal assistant, Jennifer Powers, have been indicted on federal charges for allegedly operating a sex trafficking ring, according to prosecutors. The details of the indictment reveal a shocking pattern of abuse and deception that stretched over a decade, from 2009 to 2019.
Rubin, aged 70, is accused of using his wealth to lure women into engaging in what were described as commercial sex acts involving bondage and sadomasochism. However, prosecutors assert that Rubin’s actions went far beyond the scope of the women’s consent, leading to injuries both physical and psychological, with one woman even requiring surgery. Powers, 45, is alleged to have played a key role in facilitating these encounters, managing travel arrangements and securing nondisclosure agreements, while using Rubin’s funds for payment.
A grim picture is painted by the federal indictment, describing how locations were transformed to suit Rubin’s purposes. In 2011, Rubin leased a penthouse near Central Park, where a room was allegedly converted into a soundproofed ‘sex dungeon.’ It allegedly contained equipment to shock or electrocute women. Encounters were reportedly marked by violence, with women left in significant pain and with lasting injuries.
Both Rubin and Powers were arrested, with Rubin apprehended in Connecticut and Powers in Texas. Rubin faces additional charges of bank fraud for allegedly misrepresenting financial details to secure a mortgage for Powers. Throughout the period covered by the indictment, Rubin is accused of having spent at least $1 million maintaining the alleged sex trafficking operations.
The indictment also underscores Rubin’s alleged pattern of coercion, including ignoring any “safe word” women might use to stop the violence. Powers is alleged to have downplayed injuries or blamed victims for their own situations. Authorities believe that Rubin often requested Powers to manage the aftermath of his violent actions, providing detailed descriptions to aid in damage control.
Rubin’s background in finance is extensive; he built a substantial wealth over a career that included stints at Merrill Lynch and Soros Fund Management. In a letter to the court, prosecutors cited Rubin’s offshore account containing $74.4 million as a risk factor justifying his detention without bail.
Should Rubin and Powers be convicted on the charges of sex trafficking, they face severe legal consequences, including a mandatory minimum sentence of 15 years and up to life imprisonment. These legal proceedings highlight a deep breach of trust and abuse of power that could have long-lasting repercussions on many lives.
The case serves as a stark reminder of the dark intersections where wealth and power can be used to exploit and abuse, underlining the importance of rigorous legal oversight and accountability.