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. 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. Fastow is building something that looks like a country manor, almost Tudor-ish. Lou Lung Pai (Chinese: . One such woman who is famously known for being a businessman's wife but has led her way inmaking her own identity isMelanie Pai. Lou stands at an average height. Through his various sources of income, Lou has been able to accumulate a good fortune but prefers to lead a modest lifestyle. (The government has ruthlessly narrowed its case, never calling two witnesses when one might do.). He joined Enron in 1987 and quickly climbed the ranks. "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. Socialnomics: The Social MediaRevolution. Press J to jump to the feed. Sherron Watkins, Enrons former Vice President of Corporate Development. 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. 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. 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 ?.!!!!! Lou is a Chinease-Amercian businessman and former Enrone executive. Prominent members of the Houston art world, including Ned Rifkin -- then the head of the Menil Collection, now the director of the Hirshhorn Museum -- and Barry Walker, a curator at the Museum of Fine Arts, were recruited to be a part of the collection committee, which was headed by Lea Fastow. 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. No title providedAndrew Fastow is escorted by U.S. 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, 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. Does Internet Increase, Decrease, or Supplement SocialCapital? In Enron's glory years, Whalley's close friend and rival was David Delainey, who in 2003 pled guilty to insider trading and gave some of the government's most powerful testimony against Lay and Skilling. Well, considering what happened next, I don't really think you can believe Karma had any impact on Lou Pai. In the Powers report, the Enron board's investigation of the company's unraveling, the firm's "tragic" collapse is attributed, in part, to "a culture that appears to have encouraged pushing limits.". His birthday is publicly not available. Arnold's fund, started with $8 million of his own money, has performed spectacularly and now has some $1.5 billion in assets. This was before they all began upgrading their lifestyles. Bigger houses, better boats, new wives. When times were good, Lou Pai also had a reputation for enjoying the Houston-area strip clubs. 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. After the Enron scandal, they have generally avoided the spotlight, thus details about their relationship are scarce. Further, after the divorce settlement, Lou and Melanie were married. 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. EES wanted to create an alternative private sector option that allowed consumers to buy energy on the free market, direct from a utility. Pai has kept a low profile ever since leaving Enron. 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. Extremely introverted. One theme of the prosecution has been the abymsal state of both Enron's international assets and its water business, Azurix. 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? under which this service is provided to you. 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. He left Enron six months before it collapsed in late 2001, pocketing more than $265 million from exercising Enron options and selling stock. The top 5 percent could expect to be invited to Mexico or Aspen with Skilling. and M.S. The deceptive practices of its executives, some of whom served jail time,helped spur the passage of federal laws and regulations designed to improve the accuracy of financial reporting.Enrons misdeeds in energyits traders were found to have manipulated Californias recently deregulated electricity market, helping spark a crisis that led to sky-high power prices and rotating blackoutsultimately led to the downfall of the states governor. Rebecca Mark, who built Enrons water business. All rights reserved. But he also didn't testify, after threatening to plead the Fifth. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Marshals to the Bob Casey Federal Courthouse in Houston, Texas, in 2006. 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 mentioned earlier, Pai loved strippers and frequented strip clubs, which eventually led to an affair with a stripper, Melanie Fewellwho he impregnated. Carter Smith). Lou Pai was a recluse. Two months later, in October, Enron dropped to $15. 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. Reportedly, her estimated net worth is around $1 million. Enron had to have two. She holds an American nationality. They also frequently made their way over to Advantage BMW. This includes his assets, money, and income. In fact, it is this relationship that prompted his 2000 divorce, whose settlement required the highly fortuitous unloading of most of his Enron stock before the price began to tumble. So the group bought a Bridget Riley and a Bill Viola projection piece, the Oldenburg and an important Mark Puryear titled "Bowers" that went for nearly $700,000 at auction. 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. . mile ranch. Overview. Lou was born in 1947, in Nanjing, China, and came to the United States at the age of 2 years. "It was the culture over there -- they were thoroughbreds, bred for speed.". He allegedly would bring the strippers up to lavish Enron offices where they would continue the party late into the night. 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. All times are ET. Before Skilling divorced his first wife in a messy, contentious battle and took up with an Enron secretary whom staffers called "Va Voom" behind her back. Working as a McKinsey consultant, Skilling came up with the idea that transformed Enron from a gas company to a broker of natural gas contracts between producers and wholesalers. "They wanted the work to be contemporary and adventurous -- the work was supposed to reflect Enron's culture," Walker says. View Melanie Fewell results in Texas (TX) including current phone number, address, relatives, background check report, and property record with Whitepages. When it filed for bankruptcy on Dec. 2, 2001, it was at the time the largest-ever Chapter 11 case in history, costingshareholders billions and leaving thousands of people pensionless and out of work. 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). Or someone else is a more compelling witness. 2021 And eventually, going to strip clubs turned into a full on affair with a stripper named Melanie Fewell. 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. A former Enron employee referred to Pai as the invisible CEO when he was interviewed in the 2005 documentary film Enron: The Smartest Guys in the Room. The best of Latin America and the Hispanic world. During his time at the now-defunct energy company, Pai was often referred to as "the . Lou Pai is a Chinese-American businessman and mathematical genius who has a net worth of $200 million. 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. 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. News, Andrew Weissmann, former federal prosecutor who led the investigating task force. The employees and retirees lost a great deal of their pension and benefits. Nor will some other highly colorful players in the Enron saga show their faces inside the courtroom. A jury convicted him but charges were dropped after he died at the age of 64 in July 2006 while vacationing, justmonths before his sentencing was slated to take place. Sign up to receive our content. The Fast Track The trip was to Mexico, to race motorcycles in the famed Baja 1000. Why did this happen? 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. Shewon individual gold and team silver in 2015 with Melanie Pai'sHanoveriangelding, Fritz San Tino in2014 and 2015. The two major pieces, the Puryear and the Judd, were never installed in Enron's headquarters. Melanie Fewell, Lou Pai's wife and a former stripper, is well-known for having wed the former Enron executive Lou Pai. Apr 3, 2006 - Where, for example, is Lou Pai, the enigmatic Jeff Skilling confidant. 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. 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. Between all of the various subsidiaries of Enron that Lou Pai ran, his tenure resulted in over $1 billion in losses. The Lays -- who have long been involved in some of Houston's biggest charities -- haven't been seen out much lately. Does Internet Increase, Decrease, or Supplement Social Capital? Prosecutors never viewed Mark, whom Skilling finally pushed out in August of 2000, as a target. This time, they booked a trip with the Chris Haines Motorcycle Adventure Co., a Mexico-based tour group. "If I met with investors, if I came to Boston, I'd have to lie too much," Whalley responded, according to Fastow. The reasons we probably won't be seeing these people as witnesses -- let alone as criminal defendants -- range from legal strategy to simple luck. That Pai, who was married and had two children, met Melanie Fewell,. Scandals & Rumors. Think strip clubs and Ferraris. That Pai, who was married and had two children, met Melanie Fewell,. They have three. Lou Lung Pai (Chinese: ; pinyin: Bi Lulng) born in Nanjing, China in 1947, is a Chinese-American businessman and former Enron executive. 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. "Rebecca poured gasoline all over the balance sheet, and Andy lit the fuse," he said privately. (Creative Commons and flickr.com/people/eflon//Eflon), Mark Chediak, Greg Farrell and Naureen Malik, Kenneth Lay outside the Bob Casey Federal Courthouse in Houston, Texas, in 2006. Skilling couldnt be reached, and his lawyer didnt immediately return messages seeking comment. In 2008, Pai settled insider trading charges and agreed to pay regulators $31.5 million. With a partner, Kinder went on to formhis ownenergy company. A WarnerMedia Company. Lou {Full name Lou Lung Pai (Chinese: ; pinyin: Bi Lulng)} is a Chinese-American businessman and former Enron executive. Not only that, around this same time Enron had just about reached their limit of Lou's strip club expenses and the secret disaster that EES had become. I've never been in a Chapter 11 situation before. 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. Video Lou Pai. And it wasn't enough to have one gleaming tower in downtown Houston. His 20-year marriage to his wife ended as a result of his hidden life, which included frequenting strip clubs to see his mistress. And the outcomes were brutal. And more importantly, how much did his wife get? Lou worked for the federal government in the 1970s before joining Enron. FEEDBACK bmclean@fortunemail.com and pelkind@fortunemail.com. 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. 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. Lou wasn't exactly fired from Enron, but he also wasn't exactly encouraged to stay on as CEO of EES. This early sell-off of Enron stock had the benefit of shielding Pai from the insider trading charges leveled against other Enron executives who had also secretly sold off large amounts of stock before the company's ruinous finances were publicly known. Before Enron's stock took off, and everybody made tons of cash. These days, though, Wickman's son goes to work worried about how long his job will last. Create a free website or blog at WordPress.com. As legend has it, the strippers didn't believe such a mild mannered, almost meek, person was actually a powerful energy CEO. After finding this out, Lou's then-wife of over 20 years of marriage, filed for divorce. 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. To stabilize the situation, he authorized the state to buy expensive power contracts that were paid off by customers over 20 years. 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. But in court testimony a different picture has emerged--of a guy who tried to help cover up problems. Lou obtained both his B.S. It was a mess that got even messier when the affair resulted in a pregnancy. The government has opted not to call him. Not for fear of theft, but for fear that their $50,000-a-year employees might get the wrong message when they went to retrieve their Toyotas and Fords. Fastow said he asked Whalley. 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. Billing reconciliation. No one expects them to attend anymore. The Stray Season 2 - Is It Renewed Or Cancelled? According to the wiki, she married Lou Lung Pai in 2001 and is still going strong. 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. Fastow last year said he accepted full responsibility for his actions and considers himself probably the personmost responsible for Enrons failureafter originally viewing himself as a hero. Fastow, whos now a public speaker onbusiness ethics, declined to comment when reached by phone. The pair is now raising thoroughbreds in Houston and is regarded as a member of the local neighbourhood. 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