Janet Risi Field and brother indicted in $80 million Subway franchise fraud scheme

A federal grand jury has indicted Janet Risi Field, 66, and her brother Steven Louis Risi, 70, for their alleged roles in a decades-long bribery and money laundering scheme in Florida. The scheme reportedly defrauded franchisees of the Subway sandwich chain of more than $80 million.

Field, the former CEO of the Independent Purchasing Cooperative, Inc. (IPC)—a non-profit she helped found in 1996—is accused of using her position to orchestrate secret agreements with suppliers. These intermediaries allegedly paid illicit commissions to Field and her family to secure contracts for food, equipment, and services.

Prosecutors allege the siblings used shell companies to conceal over $60 million in illegal payments, which were used to fund a luxury lifestyle including real estate in Florida and North Carolina, private investments, and high-end jewelry. Field also faces charges of wire fraud and honest services wire fraud. The investigation involved the FBI and the FDIC Office of Inspector General.