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. 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]. Before Fastow formed his side partnerships, enlisting Kopper's aid, and walked off with a minimum of $30 million. As part of the settlement, Lou Pai was barred from serving as an officer of a public company for five years. Lou, during his Enron time, used to visit a strip club, and his affair story began there with stripper Melanie and which led to Melanie being pregnant. 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. Lou is a Chinease-Amercian businessman and former Enrone executive. She is the elder child of her parents. 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At Advantage BMW, a popular Houston shopping spot for high-end Enron employees, Cliff Baxter's name was removed -- by his request, before his suicide -- from the waiting list for a coveted 745 luxury sedan. His birthday is publicly not available. Sherron Watkins, Enrons former Vice President of Corporate Development. As one of the anchors, they purchased a piece by famed minimalist Donald Judd. The name Enron is still invokedin shorthandlike Theranos,Madoff or Lehmana full two decades after its public ruin. Pai was later cast in news reports as a symbol of Enrons excess, with an alleged fondness for corporate jets and strip clubs. 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. James Fallows. She holds an American nationality. mile ranch. Photographer: F. Carter Smith/Bloomberg, Gray Davis speaks at an anti-recall rally in San Jose, California, in 2003. 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. [, A mathematics wiz, he was instrumental in getting Enron into the trading business. Melanie standstall with a height of 5 feet 7 inches. When times were good, Lou Pai also had a reputation for enjoying the Houston-area strip clubs. Melanie Fewell, Lou Pai's wife and a former stripper, is well-known for having wed the former Enron executive Lou Pai. Wayne Wickman -- who runs the dealership -- used to love it when he saw Enron traders come through his door. Lou stands at an average height. The reasons for his resignation from Enron remain shrouded in mystery. And a horse so famous it was invited to perform at Linda McCartney's funeral. Before Enron's stock took off, and everybody made tons of cash. And Kopper and his partner William Dodson opted for a postmodern abode -- boxy, all white and beige and glass and hard angles. Enron Complex in Houston Texas. 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. Prosecutors never viewed Mark, whom Skilling finally pushed out in August of 2000, as a target. Create an account to follow your favorite communities and start taking part in conversations. Shortly before Enron went belly up Lou Pais wife at the time filed for divorce, and her timing could not have been more perfect. Together, with their newborn child, the couple moved to Colorado where Lou became the second largest land. Two decades later, the companys name is still invoked in shorthand by policymakers and average Americans alike when talking about corporate greed and fraud. Lou is alive and in good health. His then-wife of over 20 years, Lanna, with whom he has two biological children, filed for divorce upon learning of the affair. 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. and/or its affiliates. This massive gap, Fastow testified, would have been "devastating information to disclose to the public.". Enron's all time highest price was $90.56 a share in August 2000. He probably thanks God every night for giving him that "peculiar fascination" with strippers! These topics have nothing in common apart from a sort of odd orthographic. Apr 3, 2006 - Where, for example, is Lou Pai, the enigmatic Jeff Skilling confidant. It led to an affair with stripper Melanie Fewell (who was also married) and resulted in a pregnancy. 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. Melanieis a happily married woman. Though married, Pai was known to spend inordinate amounts of time during and after working hours in Houston-area strip clubs, use the Enron corporate jet for personal commuting, and charge several hundred dollars worth of lunches for himself and accompanying staff to the corporate expense account until Chairman Ken Lay later prohibited it. 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. Here are some interesting facts and body measurements you should know about Lou Pai. and M.S. Claiming that he needed the money to fund his divorce, Pai sold the entirety of his shares of Enron ownership. When you put it all together, Lou Pai is one of the luckiest people on the planet. The pair is now raising thoroughbreds in Houston and is regarded as a member of the local neighbourhood. One of the horses he bought for her is named Gucci. Pai was a founder and is a former chairman of Element Markets, a renewable-energy consulting firm. I've never been in a Chapter 11 situation before. Watkins is now executive in residence at the McCoy College of Business at Texas State University and teaches a course at UNCs Kenan-Flagler Business School, she told Bloomberg News. 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. They were a bowling ball that knocked down a lot of bowling pins.. 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. Between 1997 and 2001, EES blew through $500 million in operating expenses without ever generating any significant revenues. Skilling's house is decorated in a sleek, black-and-white theme, in homage to Enron's corporate colors. Jan 2008 - Jun 20124 years 6 months. "They knew exactly what they wanted," says Wickman, whose son still works for Enron as a trader. BTW.that $30 mil.was paid by Enrons Director / Officer liability policy..it cost Pai , nothing! As a member of the Enron Task Force, Weissmann led the prosecution of accounting firm Arthur Andersenand then became director of the unit. "They are pretty much in keeping with what a top executive would have.". Find out who you might see at the Enron trial, how they got involved, and what they're doing now. After their child was born they moved to Colorado and there Lou turned the second largest landholder after buying a 120 sq. 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. Some pieces, he says, were never delivered, and remain at different galleries and studios. 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. You know how Lou Pai was able to sell off his entire stake in Enron at an average price of $72 a share? Skilling lived in a simple, square brick house with his wife and three children. Photographer: F. Carter Smith/Bloomberg(Bloomberg News/F. Delainey recalled objecting to a plan to hide hundreds of millions of dollars in losses, at a meeting of executives. Although there has been extensive testimony about EES's problems -- Delainey, who replaced Pai in early 2001, called it a "basket case" -- the allegations of fraud at EES primarily involve later events, such as the transfer of EES losses into the wholesale division and public assurances about the business's success. 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. Mar 28, 2009. She has a sister name Debby Kluepfel. 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. Eventually nicknamed "rank-and-yank," the system inspired all sorts of internal drama and sabotage. Meanwhile, Lou married his stripper girlfriend, now known as Melanie Miller Pai. This time, they booked a trip with the Chris Haines Motorcycle Adventure Co., a Mexico-based tour group. Required fields are marked *. With a partner, Kinder went on to formhis ownenergy company. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Davis, a Democrat, blamed Enron for gaming Californias power market and contributing to the blackouts that roiled the state. Money, and a peculiar fascination with strippers.". And not a few hundred dollars, not a few thousand, not a few million, but HUNDREDS of MILLIONS of dollars??? River Oaks. But it sure isn't fraud," says Jeffrey. Pai obtained both his B.S. Answered all inbound calls for the dealership. The top 5 percent could expect to be invited to Mexico or Aspen with Skilling. In 2008, Pai settled insider trading charges and agreed to pay regulators $31.5 million. All Rights Reserved.Terms Mar 28, 2009 Update on Xobni, Lou Pai (updated!) Pai joined Enron in 1987, when it was just a regional energy supplier. She is now known as Melanie Pai. Ken Lay sold off $90 million worth of stock during this period. Photographer: F. Carter Smith/Bloomberg, Andrew Fastow is escorted by U.S. 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. That Pai, who was married and had two children, met Melanie Fewell,. According to the wiki, she married Lou Lung Pai in 2001 and is still going strong. Melanie has 1 job listed on their profile. Not long after Lou fled to Colorado, Enron slowly started to collapse as investors began to question the company's accounting practices and general business ethics. Enron was definitely a two-tier society. Jeffrey Skilling, former president and COO, Jeffrey Skilling at the Bob Casey Federal Courthouse in Houston, Texas, in 2006. Gov. Since then, Pai has emerged as a partner in Midstream Capital Partners LLC. He was notorious for his. According to the wiki, she marriedLou Lung Paiin 2001 and is still going strong. 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. Lou was born in 1947, in Nanjing, China, and came to the United States at the age of 2 years. ----- . By pleading the 5th Pai has kept himself from testifying in the trials of other Enron executives, and has avoided being charged himself. Pai has been on the defense's witness list, but don't expect to see him on the stand; he took the Fifth in the Enron class-action civil suit. As you might imagine, coming home every night smelling like gasoline probably isn't a sustainable lifestyle. As the attorney for one former Enron executive put it: "He ain't getting within a thousand miles of the courtroom.". Scandals & Rumors. Further, after the divorce settlement, Lou and Melanie were married. 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