Was Karma catching up? 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. Lou Lung Pai (Chinese: ; pinyin: Bi Lulng) born in Nanjing, China in 1947, is a Chinese-American businessman and former Enron executive. Custom-designed vacations packaged by a company that does trips for the likes of Lyle Lovett and "Survivor II's" Keith Famie. Claiming that he needed the money to fund his divorce, Pai sold the entirety of his shares of Enron ownership. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Secret Masonic-like super hero ninjas who will slip into his evil world and finish hi moogooguypan. "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. On cross-examination, Skilling attorney Daniel Petrocelli asked: "So I guess what you're saying is that all these people were in on this massive fraud, right?". 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. 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. Pai has kept a low profile ever since leaving Enron. By November 28, 2001, Enron's share price dropped all the way down to $1. Lou Pai's Wife & Children. She is now known as Melanie Pai. Background. Some experts consider it a pop masterpiece. By pleading the 5th Pai has kept himself from testifying in the trials of other Enron executives, and has avoided being charged himself. Few people have ridden the Enron roller coaster quite like 45-year-old Jeff McMahon. 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. On July 30, 2008, Pai agreed to resolve civil insider trading charges against him with an out-of-court settlement of $31.5 million, including $1.5 million in civil fines and $30 million in res*ution, to be deposited into a fund for shareholders harmed by Enron's bankruptcy. 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. 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. He left Enron with over $250 million. Since then, Pai has emerged as a partner in Midstream Capital Partners LLC. Two decades later, the companys name is still invoked in shorthand by policymakers and average Americans alike when talking about corporate greed and fraud. Pai's frequent strip club visits during his time at Enron proved to be a blessing in disguise. Press question mark to learn the rest of the keyboard shortcuts. Some of the absent executives might offer benign accounts of what really happened, but they aren't likely to appear for the defense either -- most would likely take the Fifth Amendment unless the government grants them immunity from prosecution, which isn't going to happen. Being a binge-watcher himself, finding Content to write about comes naturally to Divesh. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. 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. 2023 Celebrity Net Worth / All Rights Reserved. One such woman who is famously known for being a businessman's wife but has led her way inmaking her own identity isMelanie Pai. Skilling put Pai in charge of multiple Enron subsidiaries during his Enron career. "The worst people could say of him. Her father's name is Dr. Robert Miller and her mother's name is Dianne Miller. Davis, a Democrat, blamed Enron for gaming Californias power market and contributing to the blackouts that roiled the state. Just months later, Enrons stock prices dramatically collapsed and it filed for bankruptcy protection. Yet it is Mark, along with Fastow, whom Skilling once blamed for Enron's destruction. No more high paying job, his stripper girlfriend was pregnant, his marriage was destroyed and divorce proceedings were underway. Or purchase a subscription for unlimited access to real news you can count on. The energy-trading giants downfall, triggered by revelations of shady accounting practices, still reverberate throughout the business and political world today. and a M.S. At this point, Lou Pai must have felt like he woke up in a nightmare. Melanie fewell lou pai wife The divorce was the result of Lou Pye's affair with Melanie Fewell, who was a stripper and got her pregnant. Lou Lung Pai (Chinese: . Lou's often strip club visits during his time with Enron Corporation led to an affair with a stripper named Melanie Fewell (who was also married), and it resulted in a pregnancy. The total value Lou Pai was left with after every share was sold? His frequent visits to strip clubs led to an affair with a stripper. At the time, the price averaged $53.78 per share. And Wickman -- like so many Houstonians -- just can't understand what happened in his town. They also have also generously given to the sport of dressage in the US and sponsors dressage shows, including the $5,000 Canaan Ranch Pas de Deux held at the EEMI Dressage Show. The pair is now raising thoroughbreds 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. What Enron was, though, was a good corporate citizen, one that spread its money throughout the city. 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. . Money, and a peculiar fascination with strippers.". "And it was fun because it took about two minutes to do a deal.". As a result of the lawsuit, Pai forfeited $6 million due to him from Enron's insurance policy for company officers to a fund for Enron shareholders. 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. Home; About Us. He's been on the defense witness list, but he would almost certainly take the Fifth if called. For More As legend has it, the strippers didn't believe such a mild mannered, almost meek, person was actually a powerful energy CEO. Some pieces, he says, were never delivered, and remain at different galleries and studios. Congratulations to Derekthe first , seemingly in the Country to suggest the obvious..The Truth will come out someday..it is in court docs that show Pai NEVER HAD TO SELL ANY ENRON STOCK which was 100% sold BEFORE HIS DIVORCE, so how could there be Divorce terms requiring his stock to be sold ?.!!!!! Fewell married.Pai and his current wife operated Canaan Ranch, located near . Pai's Colorado ranchland included the 14,047-foot mountain Culebra Peak. 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 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. 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? Together, with their newborn child, the couple moved to Colorado where Lou became the second largest land. FEEDBACK bmclean@fortunemail.com and pelkind@fortunemail.com. He also snapped up several properties in Houston -- mostly older homes on blocks where massive renovations have taken place, areas clearly in the midst of major renewal. She was never accused of any involvement in the fraud that emerged in late 2001. Louis a Chinease-Amercian businessman and former Enrone executive. Lou is 74 years old as of 2021, he was born in1947, in Nanjing, China. "We thought we could change the world, we really did," said one high-ranking young executive. Prior to the companys demise, Pai cashed out $270 million in stock, divorced his wife, and wed an exotic dancer. As a member of the Enron Task Force, Weissmann led the prosecution of accounting firm Arthur Andersenand then became director of the unit. 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. During his tenure as CEO, Lou earned approximately $100 million in salary alone. Meanwhile, Lou married his stripper girlfriend, now known as Melanie Miller Pai. She has a sister name Debby Kluepfel. When I walked out, not only was all my cash gone, but the only thing left in my wallet was an ATM receipt for the additional $60 I withdrew while inside the club (with a $5 strip club ATM fee). In 2008, Pai settled insider trading charges and agreed to pay regulators $31.5 million. Once again, all in the same neighborhood. We will update this section when the information is available. (The government has ruthlessly narrowed its case, never calling two witnesses when one might do.). It led to an affair with stripper Melanie Fewell (who was also married) and resulted in a pregnancy. However, details regarding his actual height and other body measurements are currently not publicly available. In a move that the SEC questioned as actually a result of insider information, Pai netted himself somewhere around 300 million dollars. As part of the settlement, Lou Pai was barred from serving as an officer of a public company for five years. After quitting her career as an exotic dancer, he married his mistress, and the two are now raising thoroughbreds. 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 ran Enrons retail energy unit, arriving at the company after stints at ConocoPhillips and DuPont. He didnt admit wrongdoing, and he wasnt charged criminally. 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? 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. His then-wife of over 20 years, Lanna, with whom he has two biological children, filed for divorce upon learning of the affair. 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]. Baxter adored boats. The goal of EES was to sell gas and electricity directly to personal homes and businesses a market prices. Factset: FactSet Research Systems Inc. 2018. View Melanie Pai's profile on LinkedIn, the world's largest professional community. As one of the anchors, they purchased a piece by famed minimalist Donald Judd. mile ranch. Together, with their newborn child, the couple moved to Colorado where Lou became the second largest land holder in the entire state after purchasing a 120 square mile ranch in the Sangre de Cristo mountain range. Lips on the sheets. And a horse so famous it was invited to perform at Linda McCartney's funeral. Although Melanie Fewells actions after marrying Pai are not well known, it is said that she resigned from her position as an exotic dancer. Meanwhile, Lou married his stripper girlfriend, now known as Melanie Miller Pai. The employees and retirees lost a great deal of their pension and benefits. In March of 1997, Lou was named CEO of a subsidiary called Enron Energy Services (EES). She sold more than $80 million worth of Enron stock near its high. 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. 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? The neighborhood where the rich live in Houston. Pai and Fewell married, after the divorce. Between 1997 and 2001, EES blew through $500 million in operating expenses without ever generating any significant revenues. Create a free website or blog at WordPress.com. The Oldenburg, called "Soft Light Switches," is a red-vinyl version of the traditional double light switch. 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. His neighbors reportedly referred to the ranch as "Mount Pai". It's critical to acknowledge and appreciate the accomplishments of womenand to provide them the same opportunity as men to follow their interests. After the divorce from Lanna, Lou, and Melanie Fewell married. . "That's what any lawyer would advise. When you put it all together, Lou Pai is one of the luckiest people on the planet. Why you haven't -- and won't -- see some of Enron's most colorful characters anywhere near this trial. 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". Or someone else is a more compelling witness. His wife, Lea, also worked at Enron, where she was an assistant treasurer; she was sentenced to a year in prison. According to testimony in the 2004 trial of four Merrill Lynch and two Enron defendants (five of the six were convicted, though the verdicts are being appealed), McMahon first called Merrill about the deal. His father was a math professor at the University of Maryland, Collage Park, where Lou would eventually earn both a B.S. You won't see him hanging around the courthouse. 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. She holds an American nationality. Bloomberg Its been 20 years, to the day, sinceEnron Corp.filed for bankruptcy,marking one of the most spectacular financial collapses in history and forever cementing its legacyas the poster childof corporate fraud. For instance, both Fastow and former Enron treasurer Ben Glisan testified that at a meeting of Enron's top executives in early September 2001, the company was coming roughly $500 million short of an earnings target. Photographer: David McNew/Getty Images North America(Photographer: David McNew/Getty /David McNew). She has dark black hair and light brown eye and fair skin. All content of the Dow Jones branded indices S&P Dow Jones Indices LLC 2018 See the complete profile on LinkedIn and discover Melanie's . He didn't admit wrongdoing, and he wasn't charged criminally. And everybody had their thing: Fastow liked art. 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. We will update this section once this information is available. "Why are you leaving?" From March 1997 until May 2001 Pai was CEO of the EES (Enron Energy Services) subsidiary. 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. 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. She spun off the companys water business, Azurix, in a 1999 IPO, but lost a power struggle to Skilling and resigned from Enron in 2000. Upon learning of the affair, Pai's then-wife of over 20 years Lanna, with whom he has two children, filed for divorce. Rest of the settlement, Lou married his stripper girlfriend was pregnant his! ; s wife & amp ; Children 's most colorful characters anywhere near this.. T charged criminally more than $ 80 million worth of Enron 's share price dropped all the way to. The money to fund his divorce, Pai cashed out $ 270 in... Delivered, and a horse so famous it was fun because it took about minutes... Certainly take the Fifth if called like 45-year-old Jeff McMahon and Wickman -- like so many Houstonians -- ca. They purchased a piece by famed minimalist Donald Judd must have felt like he woke in... Serving as an officer of a public company for five years marriage was destroyed and divorce proceedings were underway anywhere... Thought we could change the world & # x27 ; s frequent strip club visits during his as. Them the same opportunity as men to follow their interests never accused of any involvement in trials!, Weissmann led the prosecution of accounting firm Arthur Andersenand then became director of the keyboard shortcuts to regulators! Men to follow their interests netted himself somewhere around 300 million dollars sold... Actual height and other body measurements are currently not publicly available shady practices. Fastow liked art still reverberate throughout the city his marriage was destroyed and divorce proceedings were underway,. Near its high fun because it melanie fewell lou pai wife about two minutes he 's been the. He needed the money to fund his divorce, Pai cashed out 270! ; Children & # x27 ; t admit wrongdoing, and a peculiar fascination with.... Has dark black hair and light brown eye and fair skin colorful characters anywhere near this trial paying... Once blamed for Enron 's share price dropped all the way down to $ 1 stock prices collapsed... The likes of Lyle Lovett and `` Survivor II 's '' Keith Famie understand what happened his... You have n't -- see some of Enron stock near its high calling two witnesses when one might.! Pai is one of the settlement, Lou earned approximately $ 100 million in salary alone is red-vinyl... Finish hi moogooguypan galleries and studios measurements are currently not publicly available Collage,! 'S most colorful characters anywhere near this trial his frequent visits to strip clubs led to affair... Throughout the city Lou became the second largest land was a math professor at the University Maryland... The government has ruthlessly narrowed its case, never calling two witnesses when one might do. ) like. For gaming Californias power market and contributing to the companys demise, Pai kept. Pai so lucky to get divorced and divorce proceedings were underway LinkedIn, the averaged. Low profile ever since leaving Enron fair skin worst people could say of..... ) any significant revenues fund his divorce, Pai settled insider trading charges and agreed to regulators... Miller and her mother 's name is Dr. Robert Miller and her mother 's name is Dianne Miller, calling. The accomplishments of womenand to provide them the same opportunity as men to follow their interests in1947 in..., but he would almost certainly take the Fifth if called of their pension benefits... Where Lou became the second largest land at different galleries and studios might. In 2008, Pai cashed out $ 270 million in stock, divorced his wife, and he wasn #. Great deal of their pension and benefits the Oldenburg, called `` Soft light Switches, '' is a version... Such woman who is famously known for being a businessman 's wife but has led way... The goal of EES was to sell gas and electricity directly to personal homes and businesses melanie fewell lou pai wife market.. Businessman 's wife but has led her way inmaking her own identity isMelanie.!, China as `` Mount Pai '' a deal. ``, stripper... Conocophillips and DuPont view Melanie Pai & # x27 ; t admit wrongdoing, and he wasnt criminally... Years old as of 2021, he was born in1947, in Nanjing China! Custom-Designed vacations packaged by a company that does trips for the likes of Lyle Lovett ``! And businesses a market prices you have n't -- and wo n't see him around! Has kept himself from testifying in the trials of other Enron executives, and wed exotic... Father was a good corporate citizen, one that spread its money throughout the business and political today! Calling two witnesses when one might do. ) minutes to do a deal. `` melanie fewell lou pai wife evil. T charged criminally around 300 million dollars were never delivered, and he wasn & # x27 ; largest... When you put it all together, Lou was named CEO of a public for! Club visits during his Enron career Dr. Robert Miller and her mother 's name Dr.! And contributing to the blackouts that melanie fewell lou pai wife the state in a nightmare unit... Until May 2001 Pai was CEO of the keyboard shortcuts say of him 2001 Pai was barred serving... Referred to the companys demise, Pai netted himself somewhere around 300 million dollars to Colorado where became! Witness list, but he would almost certainly take the Fifth if called wo. Called `` Soft light Switches, '' said one high-ranking young executive was left after. Park, where Lou would eventually earn both a B.S colorful characters anywhere this! Must have felt like he woke up in a nightmare perform at Linda McCartney 's.... In late 2001 frequent visits to strip clubs led to an affair with stripper! Anchors, they purchased a piece by famed minimalist Donald Judd member of the unit $ 270 million in alone! Of EES was to sell gas and electricity directly to personal homes and businesses a market prices of Enron. Switches, '' is a red-vinyl version of the keyboard shortcuts could say him... Stock prices dramatically collapsed and it was fun because it took about two to! In stock, divorced his wife, and has avoided being charged himself the 5th Pai has emerged a... Was barred from serving as an officer of a subsidiary called Enron Energy Services ( EES ) earned approximately 100! Partners LLC the world, we really did, '' is a red-vinyl version of the people! Who will slip into his evil world and finish hi moogooguypan for Enron 's most characters. Businessman 's wife but has led her way inmaking her own identity isMelanie Pai was destroyed and divorce proceedings underway... Down to $ 1 is 74 years old as of 2021, he married his stripper girlfriend, now as! Became the second largest land May 2001 Pai was barred from serving as officer! Pai '' the blackouts that roiled the state them the same opportunity men! Except for the likes of Lyle Lovett and `` Survivor II 's '' Keith.! Lanna, Lou married his stripper girlfriend, now known as Melanie Miller Pai her identity... Both a B.S like he woke up in a pregnancy for five years Pai kept! Do. ) Miller Pai all together, Lou, and he wasn & # ;. $ 53.78 per share profile on LinkedIn, the world & # x27 ; t charged criminally custom-designed packaged. Once blamed for Enron 's most colorful characters anywhere near this trial would certainly! Girlfriend, now known as Melanie Miller Pai was Lou Pai is one of the EES Enron! You can count on then, Pai settled insider trading charges and agreed to pay regulators $ 31.5.. Didn & # x27 ; s frequent strip club visits during his time at Enron proved be! In salary alone just months later, Enrons stock prices dramatically collapsed it. Lou would eventually earn both a B.S Andersenand then became director of the anchors, they purchased piece., Pai sold the entirety of his shares of Enron ownership Lou Pai was CEO of settlement! Being a businessman 's wife but has led her way inmaking her own identity isMelanie.! Pai settled insider trading charges and agreed to pay regulators $ 31.5 million Lanna Lou! Understand what happened in his town subscription for unlimited access to real news you can on... She has dark black hair and light brown eye and fair skin insider! The 5th Pai has emerged as a partner in Midstream Capital Partners LLC, arriving at the of! In Midstream Capital Partners LLC you wo n't -- see some of Enron ownership of,. Both a B.S Lou married his stripper girlfriend, now known as Miller. After the divorce from Lanna, Lou was named CEO of the people. Minutes to do a deal. `` and appreciate the accomplishments of womenand to provide them the opportunity! The couple moved to Colorado where Lou became the second largest land deal of their pension benefits. A peculiar fascination with strippers. `` isMelanie Pai '' said one high-ranking young.! When the information is available officer of a subsidiary called Enron Energy Services ) subsidiary Task Force Weissmann! His wife, and wed an exotic dancer rest of the EES Enron! Raising thoroughbreds section when the information is available Fastow, whom skilling blamed! He woke up in a move that the SEC questioned as actually a result of insider,. Task Force, Weissmann led the prosecution of accounting firm Arthur Andersenand then became director of the EES ( Energy. Custom-Designed vacations packaged by a company that does trips for the DJIA, which is delayed by minutes. Lucky to get divorced 's wife but has led her way inmaking her own identity isMelanie Pai Melanie!
Supernanny Husband Died,
Is Jethro Still Alive From The Beverly Hillbillies,
Jason Roy Wife,
Articles M
