Lautz Brevient went BK,lost lawsuits and stiffed investors and companies all over Milwaukee, it appears
the story of Breviant ended badly when the business shut down, an apparent victim of the recession. I was contacted by several of the investors who contributed a portion of the $4.5 million that was invested - and lost - in the venture.
Though their comments reflected their frustration with losing money by investing in the business, what seemed to irritate them more than anything was the use of the word "wunderkind" to describe Lautz, who started Brevient when he was 16 years old, and the impression they took from the column that Brevient was successful.
A search at the time the column was written revealed little information about Brevient, other than a website, the registration for which expired a few weeks earlier. In their e-mails, one could get a real sense of what the investors felt. One wrote, "I don't want to dredge up old arguments - I just don't think your portrayal is accurate. My opinion."
Both investors who e-mailed believe they weren't provided full and accurate information before or after they invested in Brevient"
"One investor wrote that the financial impact wasn't felt only by them: "I can tell you many people lost a lot of money - everything invested. Not just equity folks but creditors, lessors, landlords, etc." Two judgments against Lautz totaling a little more than $237,000 were won by a bank and leasing company, according to Milwaukee County Circuit Court records. The records indicate that the judgment won by the leasing company was released Nov. 16. The judgment won by the bank was active as of Monday."