(TJV NEWS) A former New York financier who once managed money for billionaire George Soros has been arrested on a sweeping set of charges that include sex trafficking, bank fraud, and horrific abuse, according to federal prosecutors.

Howard Rubin, 70, was taken into custody Friday at his Fairfield, Connecticut home. A 10-count indictment unsealed in Brooklyn federal court accuses him of sex-trafficking at least 10 women between 2009 and 2019. Prosecutors allege Rubin lured victims to luxury Manhattan hotels and a Midtown penthouse—complete with a soundproof BDSM “sex dungeon”—where he bound, gagged, beat, and even shocked them with electrical devices.

Zero Hedge, which has closely tracked the scandal, reported that Rubin allegedly spent at least $1 million funding these activities. He is further charged with bank fraud for submitting false financial statements connected to lawsuits stemming from the abuse.

“As alleged, the defendants used Rubin’s wealth to mislead and recruit women to engage in commercial sex acts, where Rubin then tortured women beyond their consent, causing lasting physical and/or psychological pain,” Brooklyn U.S. Attorney Joseph Nocella said in a statement.

Grisly Details

Court filings reveal that one of the penthouse bedrooms Rubin leased on West 57th Street was painted red and fitted with a cross, restraints, and an electrocution device. Prosecutors say Rubin continued assaults even when women begged him to stop—or passed out.

Allegations against Rubin are not new. As Zero Hedge notes, he has been on the radar since at least 2017, when lawsuits described him beating women so viciously that one breast implant flipped, or shocking women with a cattle prod before raping them. Victims say Rubin often ignored safe words and once boasted, “I don’t care if she screams.”

Rubin also allegedly made grotesque remarks, at one point shouting, “I’m going to rape you like I rape my daughter,” and telling another victim that rape was “natural,” bizarrely citing Disney’s Beauty and the Beast.

The Soros Connection

Rubin’s notoriety is amplified by his Wall Street pedigree. Before these allegations, he managed significant funds for George Soros, making the scandal especially explosive given Soros’s global influence and network. Critics say this connection underscores how powerful financiers often operate above scrutiny until their abuses finally surface.

Personal Assistant Indicted

Rubin’s longtime assistant, Jennifer Powers, also faces sex trafficking charges. Prosecutors allege she recruited women—sometimes former Playboy models—arranged flights, handled NDAs, bought BDSM gear, and even advised victims on how to hide their bruises. In return, Rubin bankrolled her lifestyle, pouring millions into rent, tuition, legal fees, and even co-signing her Texas home mortgage.

Text messages cited by prosecutors reveal chilling banter. In one exchange, Rubin bragged to Powers that he had a woman tied to a cross. Powers replied: “Did you shock her p—y??” Rubin confirmed he had, but complained his device was “losing strength.”

Financial Fraud

Rubin also faces bank fraud charges. Prosecutors say he lied on financial documents in 2020 and 2022 by failing to disclose active lawsuits when co-signing Powers’ mortgage.

Zero Hedge reports that between 2009 and 2019, Rubin shifted his activities from Manhattan hotels to a leased penthouse “sex dungeon,” and even staged encounters in Las Vegas.

With his arrest, one of the most disturbing cases to hit Wall Street in years is back in the spotlight—this time with formal federal charges, and with the shadow of George Soros’s former money manager at the center of it.