CNBC | Friday, September 26, 2025 
Money manager Howard Rubin arrested on sex trafficking charges

Famed former Salomon Brothers bond trader Howard Rubin and his former personal assistant were arrested Friday morning on charges of sex trafficking and transporting women across state lines for commercial sex acts over the course of a decade. Rubin, 70, participated in sex acts with the women in luxury hotels in New York, and later, a rented penthouse apartment in Manhattan that was converted into a so-called “sex dungeon” outfitted with bondage, discipline, dominance, submission and sadomasochism equipment, as well as soundproofing, a 10-count indictment alleges. The equipment allegedly included a device to “shock or electrocute women,” prosecutors said. “During many such encounters, Rubin engaged in conduct beyond the scope of the women’s consent,” the indictment in U.S. District Court in Brooklyn, New York, alleges. “During many of these encounters, Rubin brutalized women’s bodies, causing them to fear for their safety and/or resulting in significant pain or injuries, which at times required women to seek medical attention,” the indictment charges. Rubin and his ex-personal assistant, Jennifer Powers, 45, spent at least $1 million of Rubin’s money “operating and maintaining the trafficking network,” the indictment said. Rubin was arrested by FBI agents at his home in Fairfield, Connecticut. He is scheduled to be arraigned on Friday afternoon in Brooklyn federal court. Rubin was sued in 2017 by…Read more