Judge Denies Bail to Financier Howard Rubin in Sex Trafficking Case
A federal judge in Brooklyn has denied bail to Howard Rubin, 70, for the fifth time, citing concerns that the retired financier poses a flight risk and remains a danger to the community. Rubin, along with his former assistant Jennifer Powers, 45, faces charges of sex trafficking and conspiracy related to alleged abuse occurring between 2009 and 2019.
Judge Joanna Seybert ruled that Rubin’s substantial wealth and access to international travel resources develop him likely to flee if released. Prosecutors have argued Rubin used his financial resources to facilitate the alleged abuse, spending over $1 million on encounters involving multiple women.
Allegations Detail ‘Sex Dungeon’ and Coercive Tactics
The case centers around allegations that Rubin and Powers recruited women, including former Playboy models, to participate in BDSM encounters at Rubin’s Manhattan penthouse. Court documents describe a soundproof “sex dungeon” within the penthouse, equipped with various implements of torture and restraint, including whips, chains, and a device resembling one featured in the film Fifty Shades of Grey.
Prosecutors allege that Rubin and Powers targeted women facing financial hardship or with histories of sexual trauma. The women were allegedly paid $5,000 or more per encounter, with payments made through Venmo and PayPal. The indictment further claims that women were pressured to sign non-disclosure agreements and were given alcohol before encounters, and that Rubin disregarded safe words requested by the women, resulting in injuries requiring medical attention in some cases.
Background: Rubin’s Career and Initial Charges
Rubin, a former star trader at Bear Stearns, built a successful career on Wall Street. He was initially arrested in September 2025, along with Powers, and charged with sex trafficking and bank fraud related to financing for Powers’s home in Texas.
Both Rubin and Powers have pleaded not guilty. The judge’s repeated denials of bail suggest a strong belief in the prosecution’s case and a concern for public safety.