How Two Subway Supply Whiz Siblings Allegedly Turned $80 Million in Deals into One of the Biggest Fraud Scandals You’ve Never Heard Of
Ever wonder if the sandwich you’re biting into could be the centerpiece of an $80 million scandal? Yeah, you read that right. When I first caught wind of this scheme involving a nonprofit set up to save Subway franchise owners money—only for it to end up lining pockets instead—I thought, “How does this even happen under the radar for decades?” Janet Risi Field and her brother allegedly pulled off what prosecutors are calling the Great Subway Robbery, carving out secret kickbacks while claiming to negotiate the best deals for franchisees. It’s a jaw-dropper, revealing just how intricate and audacious fraud can get even in well-established brands. If you’re in the business world, this story isn’t just a cautionary tale—it’s a reminder to always watch where the bread is buttered. LEARN MORE
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Call it the Great Subway Robbery. Prosecutors say the woman buying supplies for Subway owners and her brother pocketed millions in kickbacks.
A federal grand jury has indicted Janet Risi Field, 66, and her brother Steven Louis Risi, 70, in a scheme that allegedly cost Subway franchisees more than $80 million, according to NBC 6 South Florida. Risi Field founded Independent Purchasing Cooperative, the nonprofit that negotiates supply deals for Subway franchisees, and ran it from 1996 to 2021. Its whole job was getting owners the lowest prices.
But prosecutors say Risi Field cut secret deals with vendor brokers who shared a slice of their contract profits with her. Shell companies allegedly collected more than $60 million. The money reportedly paid for homes in Florida and North Carolina, jewelry and private clubs. A slush fund even covered her personal assistant, housekeeper and handyman.
When IPC’s board fired her in 2021 for unrelated reasons, it had no idea about the scam. She walked away with more than $6 million in severance. The siblings face up to 20 years in prison. Subway isn’t named in the indictment. Instead, prosecutors call the restaurant company “an American multinational fast-food chain that specialized in submarine sandwiches and had over 20,000 locations in North America.”
For a list of the best, most trusted franchise suppliers, see Entrepreneur’s Top Franchise Suppliers of 2026.
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