Subway Founder Fred DeLuca Sued for $5 Billion

Today, a lawsuit was filed against Subway founder and president Fred DeLuca claiming he was engaged in a fraudulent and deceptive scheme to cheat his own business partner out of his investment in a multi-billion business venture. Palm Beach developer Anthony V. Pugliese III, through prominent attorney Willie Gary, is seeking $5 billion. He is claiming breach of contract in an acquisition of 41,000 acres of land which is stated to be one of the largest single land and development acquisitions in the state of Florida, rivaling the acquisition of the Walt Disney properties in Orlando. Pugliese and DeLuca were partners in two major business ventures.

In a press release, Gary stated,

Fred DeLuca stole our client's dream. He became a partner in a multi-billion dollar business deal with our client and made empty promises. As a result, Anthony Pugliese put full trust and confidence in DeLuca concerning the financial and business matters of their joint ventures only to be misled, misguided and deceived. Fred DeLuca had every intention of making a secret profit from his business ventures with Pugliese and he plotted and schemed to take our client's interest in this multi-billion dollar business deal for his own personal benefit. It isn't right and we will not stand for it!"

The lawsuit was filed in Palm Beach County by Gary, Williams, Finney, Lewis, Watson & Sperando PL. Gary and his partners are known for taking on some of the nation’s most powerful corporate giants, including the funeral industry. In 1995, a jury awarded Gary’s firm half a billion dollars against one of the world’s largest funeral chains. He also won a $240 million jury verdict in Orange County, Florida, against Walt Disney Corporation for his client who claimed Disney stole their idea for a theme park in 2001.

A report on NBC Miami stated that Pugliese had dreams of a green community called Destiny just south of Mickey Mouse Land and asked DeLuca to become a partner in his dream. DeLuca, who is worth approximately $1.6 billion and lives in Broward County, accepted the offer.

The lawsuit claims that through a series of complex machinations, DeLuca squeezed Pugliese out of his own project, which was his plan all along. Pugliese said he invested $10 million into the project and has since had to lay off workers after DeLuca took over the project.

DeLuca has not responded to the lawsuit.

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