Lou stands at an average height. And a horse so famous it was invited to perform at Linda McCartney's funeral. The government has opted not to call him. Lou Pai liked to indulge his second wife (whom he met in a strip club) and her passion for fine horses. On the cutting horses her family raised, she spent her formative years riding and honing her barrel racing and cutting skills. His wife, Lea, also worked at Enron, where she was an assistant treasurer; she was sentenced to a year in prison. 2023 Celebrity Net Worth / All Rights Reserved. His birthday is publicly not available. Lou Pai was born in Nanjing, China in 1946 and moved to the United States with his family at the age of two. At the time, the price averaged $53.78 per share. She has a son namedKyle and a daughter named Natalie Pai. He's been on the defense witness list, but he would almost certainly take the Fifth if called. Received payments from . In March of 1997, Lou was named CEO of a subsidiary called Enron Energy Services (EES). Very reserved. After the divorce, Pai and Fewell married. Mar 28, 2009. Pai was born in Nanjing, China and came to the United States at the age of two. He was indicted in 2004 by a grand jury for his role in wide-ranging schemes to defraud the public and accused by regulators of reaping more than $90 million in ill-gotten gains from selling stock. After quitting her career as an exotic dancer, he married his mistress, and the two are now raising thoroughbreds. Lay loved real estate ventures. 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. These are the homes he's trying to unload now, as he scrambles to pay back multi-millions in debt. 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. Melanieis a happily married woman. He appears to be quite tall in stature if his photos, relative to his surroundings, are anything to go by. Pai ran Enrons retail energy unit, arriving at the company after stints at ConocoPhillips and DuPont. The goal of EES was to sell gas and electricity directly to personal homes and businesses a market prices. When Lou's wife found out about the pregnancy, she filed for divorce. A house so close to the Lays' luxe apartment building that the shadow practically falls across Kopper's lawn. The Lays -- who have long been involved in some of Houston's biggest charities -- haven't been seen out much lately. 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. When I walked in, I had about $100 cash in my wallet. All Rights Reserved.Terms 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. Fastow is building something that looks like a country manor, almost Tudor-ish. Kopper lived a few blocks away in a cottage he eventually remodeled to have an almost Japanese-style look, the house taupe in color, with a gray roof. Your email address will not be published. (FORTUNE Magazine) - One of the the jaw-dropping moments in the trial of former CEOs Ken Lay and Jeff Skilling came when former CFO Andy Fastow discussed the road show that Enron executives set up to reassure skittish investors right after Skilling's abrupt resignation in August 2001. After the Enron scandal, they have generally avoided the spotlight, thus details about their relationship are scarce. 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. CARTER SMITH). Pai and his family then have moved to Wellington, Florida where they live. At this point, Lou Pai must have felt like he woke up in a nightmare. Jan 2008 - Jun 20124 years 6 months. Meanwhile, McMahon has gone about his life, landing in 2004 as president of a Houston company called Zilkha Biomass Energy, a renewable-energy outfit. Photographer: F. Carter Smith/Bloomberg, Andrew Fastow is escorted by U.S. Photographer: David McNew/Getty Images North America(Photographer: David McNew/Getty /David McNew). 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. 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". He died of a heart attack on July 5, 2006, before his sentencing. Photographer: F. CARTER SMITH/Bloomberg(BLOOMBERG NEWS/F. The reasons we probably won't be seeing these people as witnesses -- let alone as criminal defendants -- range from legal strategy to simple luck. Where are the untouchable vigilantes out there? 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. Glisan said Whalley knew it was wrong to be using reserves as an earnings-management cookie jar. Pai sold out approximately $250 million of his Enron stock to satisfy the financial terms of his divorce settlement. As one of the anchors, they purchased a piece by famed minimalist Donald Judd. 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. Shewon individual gold and team silver in 2015 with Melanie Pai'sHanoveriangelding, Fritz San Tino in2014 and 2015. 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. 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. 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? 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. She is the elder child of her parents. It looks like you aren't allowed to do that. Lou worked for the federal government in the 1970s before joining Enron. Lou wasn't exactly fired from Enron, but he also wasn't exactly encouraged to stay on as CEO of EES. 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Lou Pai: The Only Guy Whos Ever Been Lucky to Get Divorced, the only guy whos ever been lucky to get divorced.. Mar 28, 2009 Update on Xobni, Lou Pai (updated!) And everybody had their thing: Fastow liked art. It's safe to assume Whalley has made millions too. This massive gap, Fastow testified, would have been "devastating information to disclose to the public.". Carter Smith). In his college years, Lou was considered a mathematical genius. 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. They saw him not only as honest, but as someone who could right the wrongs at Enron. All times are ET. EES wanted to create an alternative private sector option that allowed consumers to buy energy on the free market, direct from a utility. How much money did Lou Pai finally wind up with? Press J to jump to the feed. And former chief financial officer Andrew Fastow, who loved art, wanted Enron's corporate collection to rival any business's. As the company grew and took on ever riskier propositions, the strain showed inside the building. But things went off the rails asexecutives put together obscure financial instruments that ultimately became ticking time bombs. And Kopper and his partner William Dodson opted for a postmodern abode -- boxy, all white and beige and glass and hard angles. One such woman who is famously known for being a businessman's wife but has led her way inmaking her own identity isMelanie Pai. The top 5 percent could expect to be invited to Mexico or Aspen with Skilling. To stabilize the situation, he authorized the state to buy expensive power contracts that were paid off by customers over 20 years. In the US, shealso generously gave to the sport of dressage and sponsors dressage shows, which is also her source of income. A former college classmate ofLay, Kinder resigned as president of Enron in 1996 after it became clear he wouldnt become CEO. Two months later, on August 15, 2001, Enron's share price sunk to $42. "It was the culture over there -- they were thoroughbreds, bred for speed.". So he then married Melanie and she quit her . Delainey recalled objecting to a plan to hide hundreds of millions of dollars in losses, at a meeting of executives. [, A mathematics wiz, he was instrumental in getting Enron into the trading business. Together, with their newborn child, the couple moved to Colorado where Lou became the second largest land. Custom-designed vacations packaged by a company that does trips for the likes of Lyle Lovett and "Survivor II's" Keith Famie. Do Not Sell. Melanie Fewell, Lou Pai's wife and a former stripper, is well-known for having wed the former Enron executive Lou Pai. "Exhilarating," "freewheeling," "innovative," in the words of one 30-year-old who leaped three titles in three years. Shareholding and Reporting Structures She sold more than $80 million worth of Enron stock near its high. His then-wife of over 20 years, Lanna, with whom he has two biological children, filed for divorce upon learning of the affair. Pai went on to co-foundElement Markets, a Houston-based carbon-trading firm. Oh, and just like Mr. Pai, Melanie also happened to be married with two kids. His then-wife of over 20 years, Lanna, with whom he has two biological children, filed for divorce upon learning of the affair. Disclaimer. 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. It was a mess that got even messier when the affair resulted in a pregnancy. 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. Enron was definitely a two-tier society. Lous sister is Sue Pai Yang, the first Asian American appointed to be a New Jersey Workers Compensation judge. NowMark-Jusbasche, she invests in energy technology, water and agricultural projects with a focus on sustainable development, according to her LinkedIn profile. Upon learning of the affair, Pai's then-wife of over 20 years, Lanna, with whom he has two biological children, filed for divorce. During his Enron career, Skilling put Pai in charge of multiple Enron subsidiaries. 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 ?.!!!!! That Pai, who was married and had two children, met Melanie Fewell,. degree in economics. "And it was fun because it took about two minutes to do a deal.". It's what they were put on this planet to do. Pai and Fewell together operated Canaan Ranch, located near metropolitan Houston, where they raised and trained dressage horses. This time, they booked a trip with the Chris Haines Motorcycle Adventure Co., a Mexico-based tour group. 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. Or someone else is a more compelling witness. CARTER SMITH). 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. 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. Her name has hardly been uttered during the trial. With a partner, Kinder went on to formhis ownenergy company. Women have paved the path for upcoming generations by shattering barriers and dispelling misconceptions and showing the world that they are capable of doing more than just being wives or mothers. "The worst people could say of him. Another, named Pay N Go, had previously been summoned by Paul McCartney to perform at his wife's funeral in New York. 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. in economics from the University of Maryland, College Park, where his father, Shih-I Pai, was an aeronautics professor. Lou would reportedly visit a particular Houston strip club (located not far from Enron's world headquarters) every night after work. Shortly before Enron went belly up Lou Pais wife at the time filed for divorce, and her timing could not have been more perfect. 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. Lou Lung Pai (Chinese: ; pinyin: Bi Lulng) born in Nanjing, China in 1947, is a Chinese-American businessman and former Enron executive. This was before they all began upgrading their lifestyles. Pai's frequent strip club visits during his time at Enron proved to be a blessing in disguise. After finding this out, Lou's then-wife of over 20 years of marriage, filed for divorce. 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. "Given how aggressive the government has been, if they thought they had a case against Lou, I think they would have brought 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. They had the smartest guys in the room and then it blew up, said Michael Webber, a University of Texas at Austin professor who specializes in energy, adding that Enrons failure rippled through a host of institutions. River Oaks. Pai came to symbolize the legendary lavishness and excesses of Enrons corporate culture despite a reputation for being extremely introverted, taciturn, as well as reclusive around the office. And it wasn't enough to have one gleaming tower in downtown Houston. Lou obtained both his B.S. Required fields are marked *. Description above from the Wikipedia article Lou Pai, licensed under CC-BY-SA, full list of contributors on Wikipedia. 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. Photographer: F. CARTER SMITH/Bloomberg, Jeffrey Skilling at the Bob Casey Federal Courthouse in Houston, Texas, in 2006. The reasons for his resignation from Enron remain shrouded in mystery. 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. Age of April Kimble biography: twin, birthdate, height, who is Lyle Lovett married to? Some experts consider it a pop masterpiece. And Wickman -- like so many Houstonians -- just can't understand what happened in his town. Pai departed Enron months before it filed for bankruptcy; the reason for his departure is unknown, but he sold out his remaining stock. Actually, Lou Pai's penchant for strip clubs wasn't a reputation, it was a legend. iGas Mandate; Vision and Mission; Company Structure. A $7.1 million apartment in the Huntingdon -- Houston's finest apartment building -- where camera crews routinely sit outside and the Lays' neighbors now grumble that their dinner guests are practically patted down by security before being allowed to enter the building. She may not have been the best businesswoman, but that's not a crime, and there's no evidence she tried to cover anything up. They were a bowling ball that knocked down a lot of bowling pins.. Once again, all in the same neighborhood. Pai was born in Nanjing, China and came to the US at the age of 2. Pai obtained both his BS and MS from the University of Maryland in College Park, where his father was a math professor. He is now back in the energy world, according to areportthat quotes unnamed people. He allegedly would bring the strippers up to lavish Enron offices where they would continue the party late into the night. He didn't admit wrongdoing, and he wasn't charged criminally. Entertainment, Pai left Enron abruptly, and he has since vanished into oblivion. When times were good, Lou Pai also had a reputation for enjoying the Houston-area strip clubs. Enron's all time highest price was $90.56 a share in August 2000. (The government has ruthlessly narrowed its case, never calling two witnesses when one might do.). James Fallows. 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]. Claiming that he needed the money to fund his divorce, Pai sold the entirety of his shares of Enron ownership. Scandals & Rumors. Mar 28, 2009 Update on Xobni, Lou Pai (updated!) Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. According to Bethany McLean's amazing book on the rise and fall of Enron titled "The Smartest Guys in the Room": "Only two things seemed to motivate Lou Pai. His neighbors reportedly referred to the ranch as "Mount Pai". Prosecutors never viewed Mark, whom Skilling finally pushed out in August of 2000, as a target. The Fast Track The trip was to Mexico, to race motorcycles in the famed Baja 1000. "They are pretty much in keeping with what a top executive would have.". He also bought a ranch in suburban Houston for his second wife, Melanie Fewell Pai, and . Melanie standstall with a height of 5 feet 7 inches. 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. (Creative Commons and flickr.com/people/eflon//Eflon). Super Capron Funk age: biography, Wiki, age, height, family, parents, net worth, Share This Post On WhatsApp, Facebook, Twitter, Instagram & Telegram. Lou Lung Pai ( Chinese: ; pinyin: Bi Lulng) (born 23 June 1947) is a Chinese-American businessman and former Enron executive. Lou has a net worth of $270 million as of 2021. Following a dinner in New York City, the Enron team flew on to Boston -- everyone, that is, except Greg Whalley, the company's soon-to-be president, who had announced he was returning to Houston. The two major pieces, the Puryear and the Judd, were never installed in Enron's headquarters. Lou Pai was a recluse. She and her husband have operated Canaan Ranch together and used to train and raise dressage horses. 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