Howard Rubin arrested: ex-Wall Street financier faces federal sex trafficking charges

Howard Rubin, a 70-year-old retired financier, was arrested Friday, September 26, at his Fairfield, Connecticut home on federal sex trafficking charges. The former Wall Street executive faces a 10-count indictment alleging he operated an extensive criminal network from 2009 to 2019.

Federal prosecutors accuse Rubin of recruiting women for sexual activities through force, fraud, and coercion. Rubin and his assistant, Jennifer Powers, allegedly spent more than $1 million funding the operation, according to court documents.

Rubin built his Wall Street reputation as a bond trader at Salomon Brothers beginning in 1983. He later worked for Soros Fund Management, the investment firm founded by billionaire George Soros. His financial dealings were chronicled in bestselling books including "Liar's Poker" and "The Big Short."


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Born in Massachusetts to a Polaroid researcher, Rubin graduated from Lafayette College with a chemical engineering degree. After a brief period as a Las Vegas card counter, he earned an MBA from Harvard Business School before entering finance.

Howard Rubin personal life: marriage to Mary Henry and philanthropy

Rubin married Mary Henry, a fellow Wall Street professional, in 1985. The couple became prominent Manhattan socialites with a property portfolio including a multi-million-dollar Upper East Side co-op and a $9 million Hamptons waterfront estate.

The Rubins donated $500,000 to charitable causes in 2015 and 2016, supporting organizations including the New York Junior League and Hope for a Cure. The couple had three children during their 36-year marriage before Henry filed for divorce in July, 2021.

Sex trafficking allegations: federal charges against Howard Rubin

Federal prosecutors allege Rubin operated a sex trafficking scheme for approximately a decade. The charges stem from accusations that he recruited and coerced women, including former Playboy models, to engage in sexual activities in exchange for money.

Court documents describe alleged activities at a Manhattan penthouse where Rubin purportedly paid women between $2,000 and $5,000 per session. Prosecutors characterize the alleged conduct as "torturing women beyond their consent."

Previous legal troubles: 2017 lawsuits and civil claims

Rubin faced multiple civil lawsuits in late 2017 from women who accused him of abuse at a Midtown Manhattan location. The lawsuits alleged Rubin maintained a BDSM-themed apartment equipped with restraints and other devices where he allegedly assaulted women.

The civil complaints described alleged violent encounters involving Playboy models and other women who claimed Rubin paid them for sexual activities that exceeded agreed-upon boundaries. Rubin denied these allegations at the time.

Howard Rubin legal status: current federal investigation

The federal sex trafficking case represents an escalation from the previous civil litigation. Prosecutors allege the criminal enterprise involved systematic recruitment of women through fraudulent means and coercive tactics.

Jennifer Powers, identified as Rubin's assistant, faces related charges in connection with the alleged trafficking operation. Court documents suggest the investigation examined financial records showing significant expenditures related to the alleged criminal activities.

Impact on Wall Street legacy: from financial success to criminal charges

Rubin's arrest marks a dramatic fall from his previous status as a successful Wall Street executive and philanthropist. His career trajectory from Harvard MBA to prominent financier had made him a recognizable figure in New York's financial and social circles.

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The federal charges represent a significant departure from Rubin's public persona as a charitable donor and respected member of Manhattan high society. The case continues as federal prosecutors pursue the sex trafficking allegations through the court system.