Multimillionaire Howard Rubin arrested for alleged abuse related to a Midtown sex dungeon operation.

Wall Street financier Howard Rubin was arrested on Friday in connection with serious allegations of sex trafficking and assault. The retired wealth manager, 70, faces a comprehensive indictment consisting of ten charges that detail accusations of psychological and sexual abuse involving multiple women over an extended period.

The arrest took place in Fairfield, Connecticut, and Rubin is presently awaiting arraignment in federal court in Brooklyn. The legal proceedings arise from claims made by at least nine women who allege that from 2009 to 2019, Rubin, along with his assistant Jennifer Powers, orchestrated a scheme that enticed women into New York City under false pretenses for paid BDSM encounters. These encounters were reportedly characterized by violence and occurred primarily in Rubin’s luxurious penthouse located on West 57th Street. The apartment allegedly contained a soundproofed room painted red and equipped with various BDSM-related apparatus, including an electrocution device.

The indictment further alleges that in 2018, Rubin engaged in trafficking a woman in Las Vegas through means of coercion, force, and fraud. According to Brooklyn U.S. Attorney Joseph Nocella, the combined wealth of Rubin and Powers was used to recruit women for sexual encounters, often described as torture, resulting in significant psychological and physical harm to the victims.

Nocella stated that the arrests serve as a reminder that individuals exploiting others for sex are not immune to legal consequences, regardless of their financial standing. He emphasized that human beings are not commodities to be abused, and those who engage in such acts will face severe repercussions under the law.

Additionally, Rubin faces allegations of bank fraud related to misrepresentations made while financing Powers’ mortgage for a Texas property. Previously a high-profile portfolio manager for George Soros’ investment fund, Rubin has faced civil lawsuits concerning similar misconduct but had not encountered criminal charges until now.

As this situation unfolds, further updates are anticipated. The severity of these charges underscores ongoing concerns regarding human trafficking and exploitation in urban environments, emphasizing the necessity for robust legal measures to protect potential victims. Media News Source will continue to follow this story as it develops.