"The houses really aren't elaborate for Houston," says one top interior designer in town. The Stray Season 2 - Is It Renewed Or Cancelled? And the outcomes were brutal. 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. It was quite a ride they took, Enron's top brass. Davis, a Democrat, blamed Enron for gaming Californias power market and contributing to the blackouts that roiled the state. In March of 1997, Lou was named CEO of a subsidiary called Enron Energy Services (EES). And Wickman -- like so many Houstonians -- just can't understand what happened in his town. I've never been in a Chapter 11 situation before. Lou Pai: The Only Guy Whos Ever Been Lucky to Get Divorced, the only guy whos ever been lucky to get divorced.. His wife, upon finding out about it, filed for divorce. 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. 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. These topics have nothing in common apart from a sort of odd orthographic. Pai worked for the federal government in the 1970s before joining Enron. Lou eventually became one of Enron CEO Jeff Skilling's most trusted and highest ranking executives. He left Enron six months before it collapsed in late 2001, pocketing more than $265 million from exercising Enron options and selling stock. He admitted no wrong doing and never spent a moment in handcuffs. She is now known as Melanie Pai. Some pieces, he says, were never delivered, and remain at different galleries and studios. Does Internet Increase, Decrease, or Supplement Social Capital? During his Enron career, Skilling put Pai in charge of multiple Enron subsidiaries. Upon learning of the affair, Pai's then-wife of over 20 years Lanna, with whom he has two children, filed for divorce. Lou has a net worth of $270 million as of 2021. 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. "Don't worry about it," Whalley responded, according to Fastow's testimony. 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. At this point, Enron's top executives like Ken Lay and Jeff Skilling were quietly unloading massive amounts of their personal shares while simultaneously telling their own employees and outside investors that this was a GREAT time to buy more stock because Enron was sure to rebound imminently. Well, believe it or not, this is exactly what happened to former Enron executive (and alleged stripper aficionado) Lou Pai. Lockyer is now an attorney at the law firm Brown Rudnick. It was a mess that got even messier when the affair resulted in a pregnancy. 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? The average price Lou Pai got for his holdings between May and June of 2001 was $72 a share. 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. Davis is now an attorney in the Los Angeles office of Loeb & Loeb law firm, where he advises companies, nonprofits and schools. The bottom 5 percent could expect to be sent to the redeployment office, also known as the "office of shame," where they got a phone and a desk and a chance to be rehired by another division. Funky, humorous -- at times even described as adolescent in their approach to design -- the Art Guys did the bedroom with a folk art approach, with lots of color and a focus on lips. Some experts consider it a pop masterpiece. From March 1997 until January 2001, he was CEO of Enron Energy Services and from February 2001 until June 2001, he was CEO of Enron Xcelerator, a venture capital division of Enron. Shortly before Enron went belly up Lou Pais wife at the time filed for divorce, and her timing could not have been more perfect. "If we're going to show a work," Walker says, "we usually get permission to exhibit it, and I don't know who to get permission from now. In a move that the SEC questioned as actually a result of insider information, Pai netted himself somewhere around 300 million dollars. Your email address will not be published. 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. 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. 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. Lou Pai is a Chinese-American businessman and mathematical genius who has a net worth of $200 million. He also received enormous grants of valuable Enron stock. Lou was born in 1947, in Nanjing, China, and came to the United States at the age of 2 years. "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. Her father's name is Dr. Robert Miller and her mother's name is Dianne Miller. View Melanie Fewell results in Texas (TX) including current phone number, address, relatives, background check report, and property record with Whitepages. The chronology of accounts and events leading up to the Enron scandal have frequently portrayed Pai as a mysterious figure. in economics from the University of Maryland, College Park, where his father, Shih-I Pai, was an aeronautics professor. Blogging will not change every businessbut it will change many, Socialnomics: The Social Media Revolution, 09 F9 11 02 9D 74 E3 5B D8 41 56 C5 63 56 88 C0, Lou Pai: The Only Guy Who's Ever Been Lucky to Get Divorced, Blogging will not change every businessbut it will changemany, 09 F9 11 02 9D 74 E3 5B D8 41 56 C5 63 56 88C0. Through Element, Pai has invested in pollution emissions credits. 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. Pai exercised his 5th Amendment rights in regard to the subsequent Enron class action lawsuits and was not charged with any criminal wrongdoing in the Lawsuits regarding the Enron scandal. 2023 Celebrity Net Worth / All Rights Reserved. Pai obtained both his B.S. According to several former Enron employees, the executives had so many luxury cars -- Mercedes, Porsches, BMWs -- that they used to worry about parking them all near the door to the company garage. And more importantly, how much did his wife get? 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. She and her husband have operated Canaan Ranch together and used to train and raise dressage horses. 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. At age 51, she manages a family cattle ranch in northern New Mexico, and is also a director of a company that sells water-purification systems to developing countries. Lou and Melanie collectively operated Canaan Ranch, which is positioned terminate to metropolitan Houston, where they grew up and trained dressage horses, and later, they moved from Sugar Land, Texas, to Middleburg, Virginia, and opened a 2nd Canaan . His birthday is publicly not available. "That's what any lawyer would advise. In 2008, Pai settled insider trading charges and agreed to pay regulators $31.5 million. 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. That Pai, who was married and had two children, met Melanie Fewell,. It was a Skilling trip, of course, one of his annual adventures, where he took his group of "Skilling's Boys" -- those employees who were his favorites -- to some exotic location to participate in some high-risk activity. "We thought we could change the world, we really did," said one high-ranking young executive. Jeffrey Skilling, former president and COO, Jeffrey Skilling at the Bob Casey Federal Courthouse in Houston, Texas, in 2006. Why you haven't -- and won't -- see some of Enron's most colorful characters anywhere near this trial. Melaniehadstruggled a lot as her son Kyle began the fight of his life when he was diagnosed with Acute Lymphocytic Leukemia (ALL) but after struggling for several years the child survived. She pursuedher basic and secondary education at Westminister Christian Academy which wasnearby her residence. 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. Lou {Full name Lou Lung Pai (Chinese: ; pinyin: Bi Lulng)} is a Chinese-American businessman and former Enron executive. Because strippers are absolute Zen masters when it comes to extracting money from men. "Lou would prefer not to be a witness," says Jeffrey. 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. Skilling had a yen for travel adventures. This was before they all began upgrading their lifestyles. Think of it like this: Right now the amount you pay for gas or electricity is a fairly fixed rate that is set by a utility company that is probably a pseudo-government entity. Are these ghosts of Enron the luckiest people in Houston? The answer is timing so perfect it almost seemed planned. That Pai, who was married and had two children, met Melanie Fewell,. And Kopper and his partner William Dodson opted for a postmodern abode -- boxy, all white and beige and glass and hard angles. "Why are you leaving?" Further, she completed her graduation in management and finance from the University of Tulsa. It even inspired a limited-run Broadway show. Here are some interesting facts and body measurements you should know about Lou Pai. We will update this section once this information is available. By November 28, 2001, Enron's share price dropped all the way down to $1. [, A mathematics wiz, he was instrumental in getting Enron into the trading business. It led to an affair with stripper Melanie Fewell (who was also married) and resulted in a pregnancy. Pai was a founder and is a former chairman of Element Markets, a renewable-energy consulting firm. "They knew exactly what they wanted," says Wickman, whose son still works for Enron as a trader. Lou wasn't exactly fired from Enron, but he also wasn't exactly encouraged to stay on as CEO of EES. 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. The employees and retirees lost a great deal of their pension and benefits. Prosecutors never viewed Mark, whom Skilling finally pushed out in August of 2000, as a target. Pai joined Enron in 1987, when it was just a regional energy supplier. 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. As mentioned earlier, Pai loved strippers and frequented strip clubs, which eventually led to an affair with a stripper, Melanie Fewellwho he impregnated. As you might imagine, coming home every night smelling like gasoline probably isn't a sustainable lifestyle. But he hired the Houston-based design team of Michael Galbreth and Jack Massing -- who are known as the "Art Guys" -- to do his guest quarters. He might indeed be one of the few men who have ever lucky to be served divorce papers. Or someone else is a more compelling witness. 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. 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. The most popular models were the M5s and the M3s -- "the fast cars," Wickman says. She has a sister name Debby Kluepfel. Ultimately Pai settled out of court with the SEC and deposited 31.5 million in a fund to aid the shareholders harmed by the Enron scandal; forfeiting far less than what he gained from his time in Enron. (In early 2005 she agreed to pay $5.2 million of that to settle her share of a lawsuit brought by former Enron stockholders.). Once, they climbed the glaciers in Patagonia. 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. Pai's frequent strip club visits during his time with Enron led to an affair with stripper Melanie Fewell (who was also married), and resulted in a pregnancy. And eventually, going to strip clubs turned into a full on affair with a stripper named Melanie Fewell. So I guess technically he voluntary gave up the $30 million, but he did it to avoid further suits or prosecution. Another, named Pay N Go, had previously been summoned by Paul McCartney to perform at his wife's funeral in New York. He also exercised several hundred thousand Enron options. As the company grew and took on ever riskier propositions, the strain showed inside the building. There was no cap to the bonuses, which could get as high as $1 million. He became one of the top lieutenants of Jeffrey Skilling (the eventual CEO as well as brother to veteran meteorologist Tom Skilling), primarily tasked with detailing and implementing Skillings vision of transforming Enron into a de facto energy commodities trading firm. Pai's frequent strip club visits during his time with Enron led to an affair with stripper Melanie Fewell (who was also married), and resulted in a pregnancy. Regardless of whether they choose to prioritize their personal or professional lives, women should be urged and assisted in pursuing their goals and aspirations. And a horse so famous it was invited to perform at Linda McCartney's funeral. The traders idolized Whalley. No title providedAndrew Fastow is escorted by U.S. Mark declined to comment further when reached by phone. Shewon individual gold and team silver in 2015 with Melanie Pai'sHanoveriangelding, Fritz San Tino in2014 and 2015. Pai's frequent strip club visits during his time at Enron proved to be a blessing in disguise. Lou is 74 years old as of 2021, he was born in1947, in Nanjing, China. Mar 28, 2009 Update on Xobni, Lou Pai (updated!) Upon learning of the affair, Pai's then-wife of over 20 years, Lanna, with whom he has two biological children, filed for divorce. Photographer: F. Carter Smith/Bloomberg(Bloomberg News/F. Enron was definitely a two-tier society. Disclaimer. The Lays -- who have long been involved in some of Houston's biggest charities -- haven't been seen out much lately. Pai departed Enron months before it filed for bankruptcy; the reason for his departure is unknown, but he sold out his remaining stock. This is exactly what they wanted, '' said one high-ranking young executive economics from University. Enron 's most trusted and highest ranking executives in the 1970s before joining Enron SEC questioned as actually a of... 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