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The Journal.

A Wall Street Legend and His Penthouse Sex Dungeon

The Journal.

The Wall Street Journal

Business News, News, Daily News

4.25.8K Ratings

🗓️ 29 January 2026

⏱️ 26 minutes

🧾️ Download transcript

Summary

Howard Rubin is a Wall Street legend, famous in the 1980s and ‘90s for being a risk-loving star trader. He also allegedly was involved in secret sex trafficking for years, hidden in a midtown penthouse. WSJ’s Erich Schwartzel traces the saga and explains the allegations of abuse that ultimately led to Rubin’s arrest. Ryan Knutson hosts. Further Listening: - The High Pressure Tactics Gloria Allred Uses On Her Own Clients - Behind the Scenes at Davos, Claims of a Toxic Boss Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Not too long ago, a short story in the Wall Street Journal caught the attention of our colleague Eric Schwartzel.

0:11.0

It was a story about a man named Howard Rubin who'd been arrested on sex trafficking charges.

0:17.0

He pleaded not guilty.

0:19.0

I had never heard of Howard Rubin before. He pleaded not guilty.

0:24.5

I had never heard of Howard Rubin before,

0:28.0

and when I started to learn more about his biography and realized that he had been a pretty, you know,

0:31.9

regular feature of the Wall Street Journal in the 1980s and the 1990s.

0:38.4

Rubin was a star trader on Wall Street,

0:41.0

who made millions, and whose successes and failures over the years

0:44.6

got written up in our newspaper in the Wall Street Journal.

0:48.7

Along with his reputation as a big-shot trader,

0:51.5

he was also known as a family man. When I talked to folks who worked with him at the time,

0:57.5

they would tell me that, you know, frankly,

1:00.5

Howie, as they all call him,

1:02.5

wasn't necessarily the hard partying type.

1:05.8

He was seen as someone who was just pretty normal guy.

1:10.7

And he had the trappings of a pretty domestic life.

1:15.6

But something that not many people knew was that Ruben had a dark side.

1:21.6

The literary comparison that would often come up is Jekyll and Hyde,

1:26.6

this question of like someone who appeared to be one

1:29.6

person in the daytime and another person behind closed doors.

1:37.4

How would you describe who Howard Rubin is?

...

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