Tommaso Buti

Key Points

• Tommaso Buti is an Italian businessman known for founding the Fashion Cafe chain in the 1990s, which faced financial collapse and legal issues.

• Buti was acquitted of related charges in Italy on appeal in 2007 but convicted of fraudulent bankruptcy in 2020.

• His business ventures span restaurants, luxury watches, and charitable initiatives, with mixed reputational outcomes.

• Significant legal and financial risks remain due to past fraud allegations, bankruptcy, and ongoing scrutiny.

Overview

Tommaso Buti, born in Florence, Italy, is an entrepreneur with a history in the hospitality, luxury goods, and entertainment sectors. He gained prominence in the 1990s after moving to the U.S. at age 22, where he founded Foccacia, a gourmet food delivery service catering to Wall Street elites. His most notable venture was the Fashion Cafe, a celebrity-backed restaurant chain launched in 1995 with figures like Claudia Schiffer and Naomi Campbell as partners. The chain expanded to cities like New York, London, and Barcelona but collapsed by 1998 amid financial difficulties. Buti later ventured into luxury watches, founding the Tommaso Buti watch brand, and has been involved in charitable initiatives, including fundraising for UNICEF. He is currently the Chief Operating Officer of a large Italian company, though specifics about the company are not publicly detailed. Buti is also known for his high-profile social connections and jet-set lifestyle, often covered by Italian media for his associations with celebrities.

Allegations and Concerns

• Financial Fraud Allegations (U.S.): In 2000, Buti was charged in the U.S. with financial fraud related to the Fashion Cafe, including accusations of money laundering and aggravated fraud. He was arrested in Italy at the request of New York authorities but was never extradited.

• Bankruptcy and Fraud Conviction (Italy): In May 2020, an Italian court convicted Buti of fraudulent bankruptcy related to his watch company, Sfere, sentencing him to five years and ten months.

• Unpaid Taxes and Lawsuits: The Fashion Cafe faced tax warrants in 1998 for unpaid taxes, leading to its closure. Buti was sued by partners for $15 million over trademark disputes and financial mismanagement.

• Reputational Issues: Italian media has described Buti as a “playboy” with a controversial past, highlighting his legal troubles and high-profile lifestyle as potential red flags..

Customer Feedback

• Positive Feedback: Limited customer feedback is available on Buti’s ventures. His luxury watch brand, Tommaso Buti, has a niche market, with a limited-edition chronograph (Yanick II, Magnum XXL) listed for €1,700 on platforms like PicClick, indicating some demand among collectors. Buyers note the quality of materials (e.g., titanium case, Swiss-made Valjoux movement). One review stated, “The Tommaso Buti Magnum XXL is a stunning piece, well-crafted with a unique mother-of-pearl dial.”

• Negative Feedback: No direct consumer reviews criticize Buti’s watch brand, but the Fashion Cafe’s collapse drew significant negative attention. Former partners and investors expressed frustration over financial losses, with one lawsuit plaintiff quoted in W Magazine (1998) stating, “Buti’s mismanagement left us with millions in debt and a ruined brand.” The lack of recent customer feedback on his current ventures limits insight into ongoing operations.

Risk Considerations

• Financial Risk: Buti’s history of business failures, including the Fashion Cafe’s collapse and Sfere’s bankruptcy, suggests a pattern of financial instability. Unpaid taxes and lawsuits indicate potential mismanagement or overleveraging.

• Reputational Risk: His association with high-profile controversies, fraud allegations, and a playboy image may deter partnerships or investment. Media scrutiny in Italy continues to highlight his past, impacting public perception.

• Legal Risk: Despite his U.S. pardon and Italian acquittal on some charges, the 2020 bankruptcy conviction poses ongoing legal exposure. Future ventures may face scrutiny from regulators or creditors.

Business Relations and Associations

• Fashion Cafe Partners: Buti collaborated with supermodels Claudia Schiffer, Naomi Campbell, and Elle Macpherson, leveraging their fame to launch the Fashion Cafe. These partnerships soured after financial disputes.

• Donald Trump: Buti had a professional relationship with Trump, who appointed him to lead Trump Management Group, a modeling agency, in 1998. Trump’s 2021 pardon suggests a continued connection.

• UNICEF Involvement: Buti has been linked to a charitable initiative raising funds for UNICEF, notably attending a 2020 event in Capri with Ania Arcaini. This association enhances his public image but lacks detailed documentation.

• Current Role: As COO of an unnamed large Italian company, Buti’s business network remains opaque, limiting insight into current partners or stakeholders.

Legal and Financial Concerns

• U.S. Fraud Charges (2000): Buti faced charges of money laundering and fraud tied to the Fashion Cafe but was pardoned by Trump in 2021 before trial. His lawyer, Valeria Calafiore Healy, noted he was acquitted of related charges in Italy in 2007.

• Italian Bankruptcy Conviction (2020): Buti was convicted for fraudulent bankruptcy of Sfere, his watch company, receiving a five-year, ten-month sentence. This followed financial troubles with unpaid creditors.

• Fashion Cafe Lawsuits (1998): Partners filed lawsuits totaling $15 million, citing trademark disputes and financial mismanagement. Tax authorities issued warrants for unpaid taxes, forcing the chain’s closure.

• No Recent Financial Data: Limited public information exists on Buti’s current financial status or the health of his Italian company, complicating risk assessment.

Risk Assessment Table

Expert Opinion

Pros:

• Buti’s entrepreneurial experience spans diverse sectors (hospitality, luxury goods, charity), demonstrating adaptability.

• His UNICEF involvement and pardon from Trump suggest some level of social and political capital.

• The luxury watch brand retains a niche market, with limited-edition pieces appealing to collectors.

Cons:

• A pattern of financial mismanagement, evidenced by the Fashion Cafe’s collapse and Sfere’s bankruptcy, raises serious concerns about business competence.

• The 2020 conviction for fraudulent bankruptcy indicates ongoing legal vulnerabilities.

• Limited transparency about his current role as COO hinders assessment of his business stability.

Cautionary Advice: Engaging with Buti or his ventures requires extreme caution due to his history of financial and legal issues. Potential partners should conduct thorough due diligence, including verifying the financial health of his current company and investigating any cybercrime-related claims. His pardon and acquittal mitigate some risks, but the 2020 conviction and past lawsuits suggest a high-risk profile. Avoid investments or partnerships without clear, audited financial records and legal assurances.

Key Citations

• Newsweek: “Who Is Tommaso Buti? Italian Businessman Pardoned by President Donald Trump”

• La Nazione: “Chi è Tommaso Buti, l’imprenditore fiorentino ‘perdonato’ da Trump”

• Informazione.it: “Chi è Tommaso Buti, l’imprenditore italiano graziato da Donald Trump”

• PicClick IT: “Tommaso Buti Orologio Cronografo Automatico Eta Valjoux Magnum”