"Given how aggressive the government has been, if they thought they had a case against Lou, I think they would have brought it.". All rights reserved. Or purchase a subscription for unlimited access to real news you can count on. Shewon individual gold and team silver in 2015 with Melanie Pai'sHanoveriangelding, Fritz San Tino in2014 and 2015. But things went off the rails asexecutives put together obscure financial instruments that ultimately became ticking time bombs. (In early 2005 she agreed to pay $5.2 million of that to settle her share of a lawsuit brought by former Enron stockholders.). Another time, it was off-road racing in Land Cruisers in the Australian outback. Skilling put Pai in charge of multiple Enron subsidiaries during his Enron career. Fastow -- who is still residing in his Southampton house while his new one is under construction -- bought one of the larger houses on his block, a red-brick structure with white trim and a second-floor balcony. I've never been in a Chapter 11 situation before. Another, named Pay N Go, had previously been summoned by Paul McCartney to perform at his wife's funeral in New York. Although Melanie Fewells actions after marrying Pai are not well known, it is said that she resigned from her position as an exotic dancer. Pai was not charged with any criminal wrongdoing in the Enron scandal and exercised his Fifth Amendment rights in regard to the subsequent Enron cl* action lawsuits. This was before they all began upgrading their lifestyles. . Socialnomics: The Social MediaRevolution. Pai's frequent strip club visits during his time with Enron led to an affair with stripper [24] Melanie Fewell (who was also married), and resulted in a pregnancy. As legend has it, the strippers didn't believe such a mild mannered, almost meek, person was actually a powerful energy CEO. His wife, Lea, also worked at Enron, where she was an assistant treasurer; she was sentenced to a year in prison. She is now known as Melanie Pai. Upon learning of the problem, Pai's wife who is over 20 years old, Lanna, with whom she has two biological children, filed for divorce. Being a binge-watcher himself, finding Content to write about comes naturally to Divesh. He didnt admit wrongdoing, and he wasnt charged criminally. Upon learning of the affair, Pai's then-wife of over 20 years Lanna, with whom he has two children, filed for divorce. The name Enron is still invokedin shorthandlike Theranos,Madoff or Lehmana full two decades after its public ruin. Overview. Mar 28, 2009. The best of Latin America and the Hispanic world. Create an account to follow your favorite communities and start taking part in conversations. In some Houston circles, the room is referred to, simply, as the Lip Room. When times were good, Lou Pai also had a reputation for enjoying the Houston-area strip clubs. The deal went like this: Merrill Lynch agreed to buy three Nigerian power barges from Enron near the end of a quarter, after receiving a verbal guarantee that the barges would be repurchased six months later at a guaranteed profit. "Yeah, that was a little dirty," Delainey says Whalley remarked. It wasn't enough for former Enron president Jeffrey Skilling to hike in the Rockies, he wanted to scale glaciers in Patagonia. Regardless of whether they choose to prioritize their personal or professional lives, women should be urged and assisted in pursuing their goals and aspirations. Pai picked up 77,500 acres (along with some partners) in southern Colorado -- land that former shareholders and employees are trying to attach in their lawsuits. Fastow is building something that looks like a country manor, almost Tudor-ish. According to Bethany McLean's amazing book on the rise and fall of Enron titled "The Smartest Guys in the Room": "Only two things seemed to motivate Lou Pai. Lou is 74 years old as of 2021, he was born in1947, in Nanjing, China. Lou eventually became one of Enron CEO Jeff Skilling's most trusted and highest ranking executives. "Don't worry about it," Whalley responded, according to Fastow's testimony. After the divorce, Pai and Fewell married. Secret Masonic-like super hero ninjas who will slip into his evil world and finish hi moogooguypan. His prison sentence of 24 years was eventually reduced, and he left prison in 2019. More recently, Pai and his family have moved to Wellington, Florida. A former Army tank commander, he joined Enron in the early 1990s and soon became a trading-floor star, eventually running the whole trading operation. So now Skilling resides in a mammoth Mediterranean-style home with a tile roof, and he's engaged to Rebecca Carter (the one known as Va Voom), who under Skilling was promoted to executive secretary to Enron's board of directors at a salary of $600,000. He also exercised several hundred thousand Enron options. Between May 18 and June 7, 2001, Pai sold 338,897 shares of Enron stock and exercised Enron stock options that put another 572,818 shares on the open market. How did his wifes discovery of his many year-long affair with a stripper, and their child out-of-wedlock, turn out to be a good thing for Pai? Does Internet Increase, Decrease, or Supplement SocialCapital? Between 1997 and 2001, EES blew through $500 million in operating expenses without ever generating any significant revenues. And the latest big Enron project was the formation of a great art collection, one that would be on display to the public as well. Rebecca Mark, who built Enrons water business. Copyright 2021 - All right reserved People With Fame. . Shareholding and Reporting Structures Louis a Chinease-Amercian businessman and former Enrone executive. Arriving at Enron in 1994, he preceded one key government witness (Glisan) in the role of corporate treasurer, and in October 2001 succeeded another (Fastow) in the role of CFO. After finding this out, Lou's then-wife of over 20 years of marriage, filed for divorce. Skilling and Lay belong to the River Oaks Country Club -- the second-most exclusive in the city, beyond the Bayou Club -- but they haven't been seen there of late either. Lou is alive and in good health. It was quite a ride they took, Enron's top brass. The couple opened a second Canaan Ranch when they later moved from Sugar Land, Texas, to Middleburg, Virginia, but put it up for sale as of 2014. As the attorney for one former Enron executive put it: "He ain't getting within a thousand miles of the courtroom.". He joined Enron in 1987 and quickly climbed the ranks. His only real consequence came in 2008 when he agreed in an out of court settlement to pay $31.5 million in civil fines and restitution to Enron's investors. In order to pay the costly financial terms of his divorce settlement, Lou Pai was forced to cash out 100% of his Enron stock. Lou stands at an average height. State agencies reached a $1.52 billion settlement with Enron in 2005 to resolve allegations the company engaged in large-scale market manipulation during the energy crisis, though the state only expected to recover a fraction of that. He allegedly would bring the strippers up to lavish Enron offices where they would continue the party late into the night. Lou's ex wife Lanna L. Pai, with whom he had two children, was paid an undisclosed lump sum that is believed to be in the tens of millions. Photographer: F. Carter Smith/Bloomberg, Andrew Fastow is escorted by U.S. For all their money and presence in Houston -- the name on the baseball diamond, the frequent sponsorship of charity events -- most Enron executives weren't really a part of Houston's top society circle. Keep supporting great journalism by turning off your ad blocker. Famie -- the chef from "Survivor II" -- taped an episode of his Food Network show "Keith Famie's Adventures" on a Baja trip with Haines (the episode airs today). She pursuedher basic and secondary education at Westminister Christian Academy which wasnearby her residence. Lou Pai's wife of 20 years, Lanna Pai, whom he had two children with, filed for divorce after she found out about the affair. Following a dinner in New York City, the Enron team flew on to Boston -- everyone, that is, except Greg Whalley, the company's soon-to-be president, who had announced he was returning to Houston. As Enron was falling apart at the seems, and serious questions were being asked about the conduct of top Enron executives, Pai was given the perfect excuse to unload all of his holdings n Enron. "That was the kind of culture Jeff built around himself, where someone would risk their life just to get a pat on the back from him," says one former Enron executive, who requested anonymity. Was Karma catching up? He might indeed be one of the few men who have ever lucky to be served divorce papers. One of the lucky few Enron executives to escape without criminal prosecution, Lou Pai has been referred to as the only guy whos ever been lucky to get divorced. Why was Lou Pai so lucky to get divorced? (Creative Commons and flickr.com/people/eflon//Eflon). No one expects them to attend anymore. rollings.us. It is there that Pai, who was married and had two children, met Melanie Fewell, with whom he began an affair that lasted for years and produced an out-of-wedlock daughter. He is now back in the energy world, according to areportthat quotes unnamed people. Herancestral home is in Germany. Her father's name is Dr. Robert Miller and her mother's name is Dianne Miller. Hebought a publicly traded liquids pipeline company from Enron and turned it into one of the largest U.S. energy infrastructure companies in the world: Kinder Morgan Inc. Kinder is today worth $7.8 billion, ranking 346 on the Bloomberg Billionaires Index. He was indicted in 2004 by a grand jury for his role in wide-ranging schemes to defraud the public and accused by regulators of reaping more than $90 million in ill-gotten gains from selling stock. But in court testimony a different picture has emerged--of a guy who tried to help cover up problems. They later moved from Sugar Land, Texas, to Middleburg, Virginia, and opened a second Canaan Ranch there, but as of 2014, it is up for sale. Pai's Colorado ranchland included the 14,047-foot mountain Culebra Peak. It's safe to assume Whalley has made millions too. Once, they climbed the glaciers in Patagonia. ", Prosecutors walked both Glisan and Fastow through an analysis showing that, by Skilling's own estimation, the international assets and Azurix were overvalued on Enron's books by $4.3 billion. As part of the settlement, Lou Pai was barred from serving as an officer of a public company for five years. He was CEO of Enron Energy Services [5] from March 1997 until January 2001 and CEO of Enron Xcelerator, a venture capital division of Enron, from February 2001 until June 2001. And eventually, going to strip clubs turned into a full on affair with a stripper named Melanie Fewell. The Lays -- who have long been involved in some of Houston's biggest charities -- haven't been seen out much lately. Are these ghosts of Enron the luckiest people in Houston? Reportedly, her estimated net worth is around $1 million. There have to be plenty more anecdotes where that came from, once Whalley takes the stand -- or there would be, if he ever does. Oh, and just like Mr. Pai, Melanie also happened to be married with two kids. Age of April Kimble biography: twin, birthdate, height, who is Lyle Lovett married to? After the divorce from Lanna, Lou, and Melanie Fewell married. Whalley, now 44, was long one of the central characters in the Enron drama, although he only burst into public view during the company's final months. Skilling couldnt be reached, and his lawyer didnt immediately return messages seeking comment. As one of the anchors, they purchased a piece by famed minimalist Donald Judd. It's critical to acknowledge and appreciate the accomplishments of womenand to provide them the same opportunity as men to follow their interests. This is the crazy part: Pai and Fewell married, after the divorce. Upon learning of the affair, Pai's then-wife of over 20 years, Lanna, with whom he has two biological children, filed for divorce. Cable News Network. But before shit hit the fan for both EES and Enron, Lou Pai was one of the most important and highest paid people at the company. They weren't fourth-generation Houstonians -- which is basically what it takes to get into the Bayou Club. "If I met with investors, if I came to Boston, I'd have to lie too much," Whalley responded, according to Fastow. It's for sale now, one of so many gems coated in the ashes of Enron's collapse. During his time at the now-defunct energy company, Pai was often referred to as "the . It was perfect for Skilling, a man who lives to be on the edge. According to Fastow, Skilling "didn't disagree" that Enron's international businesses "were generally a disaster. Sign up to receive our content. He continues to neither admit nor deny the Securities and Exchange Commission claims that he sold millions of shares of Enron stock based on non-public information about the company's financial problems. It was a mess that got even messier when the affair resulted in a pregnancy. He probably thanks God every night for giving him that "peculiar fascination" with strippers! He was CEO of Enron Energy Services from March 1997 until January 2001 and CEO of Enron Xcelerator, a venture capital division of Enron, from February 2001 until June 2001. The one he's keeping? Mark was also lucky. Pai sold out approximately $250 million of his Enron stock to satisfy the financial terms of his divorce settlement. The only other person who can probably relate is Mikhail Prokhorov, the Russian billionaire and Brooklyn Nets owner who pretty much owes his entire $10 billion dollar fortune to a private jet full of prostitutes. In the time since, Pai went on to become on of the largest landowners in Colorado, where he lived for a time with his new wife, the former stripper, Melanie Fewell [Pai]. Skilling had a yen for travel adventures. Lou Pai {Full name Lou Lung Pai (Chinese: ; pinyin: Bi Lulng)} is a Chinese-American businessman and former Enron executive who was born in 1947, Nanjing, China. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. When the bankruptcy occurred in December, more than a dozen pieces had been collected, costing in the millions, and the committee was in the process of reviewing proposals by artists for solicited pieces as well. More recently, Pai and his family have moved to Wellington, Florida. With a partner, Kinder went on to formhis ownenergy company. 15 Taissa Farmiga Movies and TV Shows That Prove She's As Good As Her Sister Vera Farmiga, Netflix's We Have a Ghost (2023) Ending Explained. Pai, a mathematician and child of Chinese immigrants, was in charge of creating the market model for natural gas deregulation. Meanwhile, Lou married his stripper girlfriend, now known as Melanie Miller Pai. It's what they were put on this planet to do. After the Enron scandal, they have generally avoided the spotlight, thus details about their relationship are scarce. The Fast Track The trip was to Mexico, to race motorcycles in the famed Baja 1000. Lips on the sheets. Ken Rice -- another top Enron executive -- adored Ferraris. [, On July 30, 2008, Pai agreed to resolve the civil. His then-wife of over 20 years, Lanna, with whom he has two biological children, filed for divorce upon learning of the affair. "That was the world they lived in," he says. Here are some interesting facts and body measurements you should know about Lou Pai. Although Melanie Fewell's actions after marrying Pai are not well known, it is said that she resigned from her position as an exotic dancer. Pai and Fewell together operated Canaan Ranch, located near metropolitan Houston, where they raised and trained dressage horses. Enron executives -- particularly Fastow -- envisioned this collection as one that would be mentioned in the same breath as those held by companies like Chase Manhattan and Paine Webber. At the Museum of Fine Arts, a $575,000 soft sculpture by Claes Oldenburg -- a part of Enron's corporate art collection -- is stored in a crate. Lou Pai's Wife & Children. Natalie Pai isa rising star in dressage andthe youngest competitor in history to bring two horsesto compete at the Festival of Champions. Lou Pai is a Chinese-American businessman and mathematical genius who has a net worth of $200 million. Upon knowing of the affair, Lou's then-wife of more than 20 years, Lanna, with whom he has 2 biological children, filed for divorce. Lou worked for the federal government in the 1970s before joining Enron. During his Enron career, Skilling put Pai in charge of multiple Enron subsidiaries. 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