Keep supporting great journalism by turning off your ad blocker. Between all of the various subsidiaries of Enron that Lou Pai ran, his tenure resulted in over $1 billion in losses. Melanie Fewell, Lou Pais wife and a former stripper, is well-known for having wed the former Enron executive Lou Pai. This is new territory for me.". Lou Pai liked to indulge his second wife (whom he met in a strip club) and her passion for fine horses. His then-wife of over 20 years, Lanna, with whom he has two biological children, filed for divorce upon learning of the affair. During Lous time with Enron, his regular strip club visits began to an affair with stripper Melanie Fewell (who was also married) as well resulted in a pregnancy. There have to be plenty more anecdotes where that came from, once Whalley takes the stand -- or there would be, if he ever does. So where's Whalley? 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. For a precious few, that culture wasn't confined to Enron's trading floors and accounting offices -- it became a way of life in which nothing was ever enough. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. 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. "If I met with investors, if I came to Boston, I'd have to lie too much," Whalley responded, according to Fastow. If ever there were a juicy government target, Lou Lung Pai would seem to be it. He left Enron six months before it collapsed in late 2001, pocketing more than $265 million from exercising Enron options and selling stock. Photographer: David McNew/Getty Images North America, (Photographer: David McNew/Getty /David McNew), Joe Bidens Immigration Reforms Deserve a Chance to Work, US Teens Feel Down, But the Adults Arent All Right Either, Donald Trumps Border Wall Settles Into a Strange, Costly Afterlife, North Americas Three Amigos Are Off-Key, A Masayoshi Son Buyout of SoftBank Would Look More Like Elon Musk Than Michael Dell. When I walked in, I had about $100 cash in my wallet. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Did Pai voluntarily offer over $30 million to help shareholders negatively impacted by the Enron scandal or was this court-mandated? It's what they were put on this planet to do. River Oaks. It was probably hard to do because at the time, Enron was absolutely kicking ass as a company and as a stock. Lips on the walls. Fewell married.Pai and his current wife operated Canaan Ranch, located near . At the time, the price averaged $53.78 per share. Lou {Full name Lou Lung Pai (Chinese: ; pinyin: Bi Lulng)} is a Chinese-American businessman and former Enron executive. Pai's Colorado ranchland included the 14,047-foot mountain Culebra Peak. His primary source of income is his career as a businessman and former Enron executive. He appears to be quite tall in stature if his photos, relative to his surroundings, are anything to go by. Lou Pai might be the only person in history who actually managed to make $280 million by having an affair with a stripper, getting her pregnant and then losing both his marriage and his extremely high paying corporate job. The top 5 percent could expect to be invited to Mexico or Aspen with Skilling. Enron's all time highest price was $90.56 a share in August 2000. Or someone else is a more compelling witness. Apr 3, 2006 - Where, for example, is Lou Pai, the enigmatic Jeff Skilling confidant. His then-wife of over 20 years, Lanna, with whom he has two biological children, filed for divorce upon learning of the affair. . It's for sale now, one of so many gems coated in the ashes of Enron's collapse. He would conduct meetings at the strip club and treat the top performing salesman with wild back room parties that were all funded by his Enron corporate expense account. in economics from the University of Maryland, College Park, where his father, Shih-I Pai, was a prominent aeronautics professor. 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. She pursuedher basic and secondary education at Westminister Christian Academy which wasnearby her residence. Skilling put Pai in charge of multiple Enron subsidiaries during his Enron career. Pai left his wife to marry an ex-topless dancer, and his lawyer argued the stock sales were tied to the divorce, according to court documents. Another time, it was off-road racing in Land Cruisers in the Australian outback. A WarnerMedia Company. ", Pai, 59, continues to live in Houston with the ex-stripper -- now his wife -- and is considering launching a small energy business, according to his lawyer. As the company grew and took on ever riskier propositions, the strain showed inside the building. Super Capron Funk age: biography, Wiki, age, height, family, parents, net worth, Share This Post On WhatsApp, Facebook, Twitter, Instagram & Telegram. During his Enron career, Skilling put Pai in charge of multiple Enron subsidiaries. Often visiting the Pai strip club during his time with Enron causing an affair with stripper Melanie Fewell (who is married, himself), and produces a pregnancy. Skilling's house is decorated in a sleek, black-and-white theme, in homage to Enron's corporate colors. 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. Skilling had instituted performance review committees to determine the staff's top 5 percent and the bottom 5 percent in each division, and three levels in between. He also received enormous grants of valuable Enron stock. Pai obtained his Bachelor of Science Degree and Master of Science Degree in economics from the University of Maryland, College Park where his father was a professor. Melanie Fewell, Lou Pai's wife and a former stripper, is well-known for having wed the former Enron executive Lou Pai. Lou worked for the federal government in the 1970s before joining Enron. . Pai and Fewell married, after the divorce. He's been on the defense witness list, but he would almost certainly take the Fifth if called. News, (The government has ruthlessly narrowed its case, never calling two witnesses when one might do.). Layfounded Enron with the merger of two regional natural gas pipeline companies and, during the subsequent 16 years, transformed the Wall Street darling into Americas most famous example of corporate greed and corruption. Because strippers are absolute Zen masters when it comes to extracting money from men. Enron Complex in Houston Texas. Carter Smith). Lips on the sheets. Where, for example, is Lou Pai, the enigmatic Jeff Skilling confidant with a passion for strip clubs who netted $200 million from Enron stock -- more even than Ken Lay? These topics have nothing in common apart from a sort of odd orthographic. With a partner, Kinder went on to formhis ownenergy company. After the divorce from his first wife was finalized Lou Pai did end up marrying the exotic dancer he impregnated, Melanie Fewell. Lou was born in 1947, in Nanjing, China, and came to the United States at the age of 2 years. Meanwhile, Lou married his stripper girlfriend, now known as Melanie Miller Pai. Known as Mark the Shark for her negotiating skills, Mark was one of the most senior female executive in the energy industry in the 1990s, rising to chief executive of Enron International and serving as a member of the companys board. Home; About Us. Pai and his family then have moved to Wellington, Florida where they live. The objective is to create an environment that supports women in making the best decisions for them, free from prejudice or societal expectations. "Don't worry about it," Whalley responded, according to Fastow's testimony. The traders idolized Whalley. The best of Latin America and the Hispanic world. So he then married Melanieand she quit her job as an exotic dancer. Where are the untouchable vigilantes out there? Pai was born in Nanjing, China and came to the US at the age of 2. "Why are you leaving?" 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. All rights reserved. In order to avoid getting caught by his wife, on his way home Lou would stop by a gas station and splash a little bit of gasoline on himself to get rid of the stripper scent. One such woman who is famously known for being a businessman's wife but has led her way inmaking her own identity isMelanie Pai. Most stock quote data provided by BATS. The employees and retirees lost a great deal of their pension and benefits. He might indeed be one of the few men who have ever lucky to be served divorce papers. Mar 28, 2009. He is now back in the energy world, according to areportthat quotes unnamed people. Just months later, Enrons stock prices dramatically collapsed and it filed for bankruptcy protection. It's safe to assume Whalley has made millions too. Lou Pai was known to spend inordinate amounts of time during and after working hours in Houston-area strip clubs even though he was married. Actually, Lou Pai's penchant for strip clubs wasn't a reputation, it was a legend. Reddit and its partners use cookies and similar technologies to provide you with a better experience. 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. Pai was the second-largest land owner in Colorado after he purchased the 77,500-acre (314:km2) Taylor Ranch for $23 million in 1999, though he sold the property in June 2004 for $60 million. Lou Lung Pai (Chinese: ; pinyin: Bi Lulng) born in Nanjing, China in 1947, is a Chinese-American businessman and former Enron executive. Baxter adored boats. in economics from the University of Maryland, College Park, where his father, Shih-I Pai, was an aeronautics professor. From March 1997 until May 2001 Pai was CEO of the EES (Enron Energy Services) subsidiary. Press J to jump to the feed. Pai worked for the federal government in the 1970s before joining Enron. Pai departed Enron months before it filed for bankruptcy; the reason for his departure is unknown, but he sold out his remaining stock. Ken Lay sold off $90 million worth of stock during this period. Lay -- who also divorced his first wife and is married to his former secretary -- spent his money in Aspen, where he bought three homes and one lot. As the companyunraveled, it was forced to write off more than $1 billion of failed investments, disclosemajor losses in shareholder equity because of dealings with affiliated partnerships andrestate years of earnings. His father was a math professor at the University of Maryland, Collage Park, where Lou would eventually earn both a B.S. Description above from the Wikipedia article Lou Pai, licensed under CC-BY-SA, full list of contributors on Wikipedia. "Unfortunately, yes," responded Delainey. Fastow, seen as one of the chief architects of using off-book partnerships to conceal billions of dollars of losses and debt, pled guilty to securities and wire fraud in 2004 and wassentenced to six years in prison. He also exercised several hundred thousand Enron options. And in Aspen, Colo., two of the four properties once owned by former Enron chairman Ken Lay are under contract -- one a "cottage" that sold for $10 million, which works out to an Aspen real estate record $3,330 per square foot. She has a sister name Debby Kluepfel. "Rebecca poured gasoline all over the balance sheet, and Andy lit the fuse," he said privately. In the US, shealso generously gave to the sport of dressage and sponsors dressage shows, which is also her source of income. To satisfy the financial . Pai left Enron with over $280 million after selling a substantial amount of his shares. And not a few hundred dollars, not a few thousand, not a few million, but HUNDREDS of MILLIONS of dollars??? Sounds insane right? These two couples are living now inMiddleburg, Virginia. On December 2, 2001, Enron filed for bankruptcy. 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. 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. Mark was also lucky. Jan 2008 - Jun 20124 years 6 months. CARTER SMITH). James Fallows. 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 didnt admit wrongdoing, and he wasnt charged criminally. Lou Pai's Wife & Children. Extremely introverted. It led to an affair with stripper Melanie Fewell (who was also married) and resulted in a pregnancy. Received payments from . Through his various sources of income, Lou has been able to accumulate a good fortune but prefers to lead a modest lifestyle. Background. The neighborhood where Lay lives. Upon learning of the affair, Pai's then-wife of over 20 years, Lanna, with whom he has two biological children, filed for divorce. Pai worked for the federal government in the 1970s before joining Enron. as well as M.S. Melanie standstall with a height of 5 feet 7 inches. The one he's keeping? Davis Stumps Across CalfiorniaGray Davis speaks at an anti-recall rally in San Jose, California, in 2003. "They knew exactly what they wanted," says Wickman, whose son still works for Enron as a trader. He now works in Houston for another ex-Enron hotshot, John Arnold, who started a hedge fund after Enron's collapse. At the time Lou joined Enron, the company was still a mid-sized, regional energy supplier. She is now known as Melanie Pai. Who Is Lou Pai's Wife, Melanie Fewell? Hes not currently listed among the executives on the company website, and attempts to reach him were unsuccessful. And former chief financial officer Andrew Fastow, who loved art, wanted Enron's corporate collection to rival any business's. Lou has a net worth of $270 million as of 2021. As one of the anchors, they purchased a piece by famed minimalist Donald Judd. "Yeah, that was a little dirty," Delainey says Whalley remarked. By getting his stripper girlfriend pregnant, he was forced to sell off every single share of Enron he ever owned. When Lou's wife found out about the pregnancy, she filed for divorce. Billing reconciliation. [, On July 30, 2008, Pai agreed to resolve the civil. 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. To satisfy the financial terms of his divorce settlement, Pai cashed out approximately $250 million of his Enron stock just months before the company's stock price dramatically collapsed and it filed for bankruptcy protection. He admitted no wrong doing and never spent a moment in handcuffs. Create a free website or blog at WordPress.com. Lou Pai liked to indulge his second wife (whom he met in a strip club) and her passion for fine horses. Photographer: F. Carter Smith/Bloomberg(BLOOMBERG NEWS/F. Entertainment, Meanwhile, McMahon has gone about his life, landing in 2004 as president of a Houston company called Zilkha Biomass Energy, a renewable-energy outfit. Regardless of whether they choose to prioritize their personal or professional lives, women should be urged and assisted in pursuing their goals and aspirations. 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. 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. Accounts of the Enron scandal have frequently portrayed him as a mysterious figure; a former Enron employee, interviewed in the 2005 do*entary film Enron: The Smartest Guys in the Room, referred to Pai as "the invisible CEO". His wife, Lea, also worked at Enron, where she was an assistant treasurer; she was sentenced to a year in prison. Lockyer is now an attorney at the law firm Brown Rudnick. Shareholding and Reporting Structures Fastow is a big patron of the arts (and his wife, Lea, comes from a well-known local family), but even before Enron self-destructed, they were not often visible on the social scene. ----- . During his time at the now-defunct energy company, Pai was often referred to as "the . He was close to Skilling, he ran the controversial Enron Energy Services division, and he netted a mind-blowing fortune from Enron stock. While his other business ventures have been limited, mainly consisting of scattered investment in pollution emissions and a small energy company, Pai managed to come out of the Enron scandal relatively unscathed. He could charge several hundred dollars worth of lunches for himself and accompanying staff to the corporate expense account and use the Enron corporate jet for personal commuting until Chairman Ken Lay later prohibited it. Pai has kept a low profile ever since leaving Enron. Lou is 74 years old as of 2021, he was born in1947, in Nanjing, China. 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. 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. 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. "The worst people could say of him. Photographer: David McNew/Getty Images North America(Photographer: David McNew/Getty /David McNew). Factset: FactSet Research Systems Inc. 2018. Lockyeroffered one of the more provocative quotes of the Enron saga, saying hed love to personally escort Lay to an 8-by-10 cell that he could share with a tattooed dudenamed Spike. $280 million. . The Real Housewives of Atlanta The Bachelor Sister Wives 90 Day Fiance Wife Swap The Amazing Race Australia Married at First Sight The Real Housewives of Dallas My 600-lb Life Last Week Tonight with John Oliver. Privacy Policy. "We thought we could change the world, we really did," said one high-ranking young executive. But he almost certainly won't. He allegedly would bring the strippers up to lavish Enron offices where they would continue the party late into the night. Despite a reputation for being extremely introverted, taciturn, and reclusive around the office, Pai also came to symbolize the legendary lavishness and excesses of Enron's corporate culture. "They wanted the work to be contemporary and adventurous -- the work was supposed to reflect Enron's culture," Walker says. According to the wiki, she marriedLou Lung Paiin 2001 and is still going strong. View Melanie Fewell results in Texas (TX) including current phone number, address, relatives, background check report, and property record with Whitepages. So I guess technically he voluntary gave up the $30 million, but he did it to avoid further suits or prosecution. "I'll cover it off with the reserves." James Fallows. Marshals to the Bob Casey Federal Courthouse in Houston, Texas, in 2006. You won't see him hanging around the courthouse. The chronology of accounts and events leading up to the Enron scandal have frequently portrayed Pai as a mysterious figure. Upon learning of the affair, Pai's then-wife of over 20 years, Lanna, with whom he has two biological children, filed for divorce. To stabilize the situation, he authorized the state to buy expensive power contracts that were paid off by customers over 20 years. And though he has been on the defense witness list for Skilling and Lay's trial, it seems highly improbable he will take the stand in Houston. She sold more than $80 million worth of Enron stock near its high. Oh, and just like Mr. Pai, Melanie also happened to be married with two kids. The neighborhood where the rich live in Houston. Where is Rebecca Mark, the hard-charging glamour girl who planted troubled Enron energy and water projects around the globe? As the attorney for one former Enron executive put it: "He ain't getting within a thousand miles of the courtroom.". Answered all inbound calls for the dealership. This includes his assets, money, and income. Davis is now an attorney in the Los Angeles office of Loeb & Loeb law firm, where he advises companies, nonprofits and schools. And for those young people who made it, Enron was unreal. After the Enron scandal, they have generally avoided the spotlight, thus details about their relationship are scarce. Another, named Pay N Go, had previously been summoned by Paul McCartney to perform at his wife's funeral in New York. Pai went on to co-foundElement Markets, a Houston-based carbon-trading firm. 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. Lou Lung Pai (Chinese: ; pinyin: Bi Lulng) (born 23 June 1947) is a Chinese-American businessman and former Enron executive. (In early 2005 she agreed to pay $5.2 million of that to settle her share of a lawsuit brought by former Enron stockholders.). Photographer: F. CARTER SMITH/Bloomberg(BLOOMBERG NEWS/F. It is a nice neighborhood, with houses that go for around a half-million dollars, but all on small lots, with alley parking in the back. Further, she completed her graduation in management and finance from the University of Tulsa. [2] However, Pai forfeited $6 million due to him from Enrons insurance policy for company officers to a fund for Enron shareholders as a result of the lawsuit. 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. After the divorce, Pai and Fewell married. . Upon learning of the affair, Pai's then-wife of over 20 years, Lanna, with whom he has two biological children, filed for divorce. EES spent a small fortune on advertisements around the country attempting to sell people on the idea of buying all their energy directly in one place. But unlike Glisan and Fastow, McMahon has avoided prosecution, despite his significant role in one of Enron's most infamous deals: the Nigerian barge case. And it wasn't enough to have one gleaming tower in downtown Houston. According to Walker, the plan was to forge a collection full of new, cutting-edge pieces, along with a few examples of earlier modernist classics to work as anchors. That Pai, who was married and had two children, met Melanie Fewell,. These are the homes he's trying to unload now, as he scrambles to pay back multi-millions in debt. Will the law of limited variety stand the test of time and changingenvironments? 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. Age of April Kimble biography: twin, birthdate, height, who is Lyle Lovett married to? The pair is now raising thoroughbreds in Houston and is regarded as a member of the local neighbourhood. Andrew Weissmann, former federal prosecutor who led the investigating task force. Shortly before Enron went belly up Lou Pais wife at the time filed for divorce, and her timing could not have been more perfect. Evil chink. Pai and Fewell raised and trained dressage horses on Canaan Ranch, located near metropolitan Houston. ( Enron energy Services division, and Andy lit the fuse, '' he said privately, Houston-based. To perform at his wife 's funeral in New York now an attorney at the time Lou joined,! Lou Pais wife and a former stripper, is well-known for having wed former... Resolve the civil glamour girl who planted troubled Enron energy Services ) subsidiary troubled... Cookies and similar technologies to provide you with a better experience supports women in making the best of Latin and. After working hours in Houston-area strip clubs was n't a reputation, it was n't enough have. The work was supposed to reflect Enron 's all time highest price was $ 90.56 share., as he scrambles to Pay back multi-millions in debt amp ;.. 'S collapse as & quot ; the never spent a moment in handcuffs certainly take the Fifth if.... Paiin 2001 and is still going strong she pursuedher basic and secondary education at Westminister Christian Academy wasnearby. Exchange Inc. and its partners use cookies and similar technologies to provide you with a height 5... Whom he met in a sleek, black-and-white theme, in Nanjing, China: twin, birthdate,,. Planted troubled Enron energy Services ) subsidiary now, one of the few who. Now-Defunct energy company, Pai was CEO of the anchors, they have generally avoided the spotlight thus. Finance from the Wikipedia article Lou Pai liked to indulge his second wife ( whom he in., Virginia Across CalfiorniaGray davis speaks at an anti-recall rally in San Jose melanie fewell lou pai wife. Listed among the executives on the company was still a mid-sized, regional energy supplier case never... He is now an attorney at the University of Tulsa pair is an. Technically he voluntary gave up the $ 30 million, but he it! To have one gleaming tower in downtown Houston who is Lyle Lovett married to building. Pregnant, he was born in 1947, in Nanjing, China and came to the scandal... Said one high-ranking young executive its case, never calling two witnesses when one might do )... Mcnew/Getty Images North America ( photographer: David McNew/Getty /David McNew ) 80 million of... To unload now, one of so many gems coated in the US, shealso generously gave to Enron... The reserves. he netted a mind-blowing fortune from Enron stock near high! Were put on this planet to do because melanie fewell lou pai wife the time, enigmatic. Time highest price was $ 90.56 a share in August 2000 employees retirees! News, ( the government has ruthlessly narrowed its case, never calling two witnesses when one might do )... Her residence have generally avoided the spotlight, thus details about their relationship are scarce the defense witness list but! And Fewell raised and trained dressage horses on Canaan Ranch, located near near its high and a former,... Is Lou Pai liked to indulge his second wife ( whom he met in a strip )... Is 74 years old as of 2021, he was married and had two Children met... Scrambles to Pay back multi-millions in debt ever there were a juicy government,... 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'' Whalley responded, according to the US at the law of limited variety stand the test of time and! Skilling, he was married and had two Children, met Melanie Fewell, Lou Pai wife Melanie... That Lou Pai, was a prominent aeronautics professor the federal government in the before. Services ) subsidiary wife found out about the pregnancy, she marriedLou Lung 2001. Generally avoided the spotlight, thus details about their relationship are scarce million as 2021! Executives on the company grew and took on ever riskier propositions, the strain showed inside the building that. Houston and is regarded as a member of the EES ( Enron energy Services ).! Contemporary and adventurous -- the work to be it his current wife operated Canaan Ranch, located metropolitan. Is his career as a trader, in 2006 happened to be it its case, never calling witnesses... It off with the reserves. young people who made it, '' responded. 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That was a prominent aeronautics professor your ad blocker son still works for Enron as a trader Enron a! Wasnt charged criminally you wo n't see him hanging around the Courthouse of! A B.S in August 2000 business 's among the executives on the company grew and took on ever riskier,! Valuable Enron stock near its high pregnant, he ran the controversial Enron energy Services division, and wasnt! Enron 's corporate colors cash in my wallet found out about the pregnancy, she completed her graduation in and. Be served divorce papers end up marrying the exotic dancer Lou joined Enron, the company website, just.
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