Why did this happen? "We thought we could change the world, we really did," said one high-ranking young executive. After quitting her career as an exotic dancer, he married his mistress, and the two are now raising thoroughbreds. Natalie Pai isa rising star in dressage andthe youngest competitor in history to bring two horsesto compete at the Festival of Champions. Very reserved. The objective is to create an environment that supports women in making the best decisions for them, free from prejudice or societal expectations. 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. He was notorious for his. 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. 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. He has insisted he did nothing wrong, and he has not been charged. Dana Carvey Net Worth : How Rich Is The American Comedian In 2023? Sounds insane right? It was probably hard to do because at the time, Enron was absolutely kicking ass as a company and as a stock. Meanwhile, Lou married his stripper girlfriend, now known as Melanie Miller Pai. 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 Colorado ranchland included the 14,047-foot mountain Culebra Peak. 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. He allegedly would bring the strippers up to lavish Enron offices where they would continue the party late into the night. Where is Rebecca Mark, the hard-charging glamour girl who planted troubled Enron energy and water projects around the globe? and a M.S. . For instance, Fastow testified that in July 2001 Whalley said that all the heads of the international business should be fired because they had done billions upon billions of bad deals. Through his various sources of income, Lou has been able to accumulate a good fortune but prefers to lead a modest lifestyle. Well, believe it or not, this is exactly what happened to former Enron executive (and alleged stripper aficionado) Lou Pai. Upon learning of the affair, Pai's then-wife of over 20 years, Lanna, with whom he has two biological children, filed for divorce. 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. Although she has been on the defense witness list, it's not clear they'll call her even if she is willing to testify, since she left Enron too early to know much about the government's specific in-court allegations against the former CEOs. His neighbors reportedly referred to the ranch as "Mount Pai". Despite being one of the companys top executives, the cause of his leaving is still unknown; theories range from a quarrel with Jeff Skilling to a desire to found his own business. EES spent a small fortune on advertisements around the country attempting to sell people on the idea of buying all their energy directly in one place. And eventually, going to strip clubs turned into a full on affair with a stripper named Melanie Fewell. As part of the settlement, Pai was also barred from serving as an officer or director of a public company for five years. Lou Pai was born in Nanjing, China in 1946 and moved to the United States with his family at the age of two. All times are ET. Melanie has 1 job listed on their profile. They saw him not only as honest, but as someone who could right the wrongs at Enron. 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. On the cutting horses her family raised, she spent her formative years riding and honing her barrel racing and cutting skills. As the company grew and took on ever riskier propositions, the strain showed inside the building. ----- . Most stock quote data provided by BATS. And Kopper and his partner William Dodson opted for a postmodern abode -- boxy, all white and beige and glass and hard angles. 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. 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. Arnold's fund, started with $8 million of his own money, has performed spectacularly and now has some $1.5 billion in assets. They weren't fourth-generation Houstonians -- which is basically what it takes to get into the Bayou Club. All of which raises the question: What's happened to the architect of these businesses -- Rebecca Mark, whom FORTUNE named one of the 50 Most Powerful Women in Business in 1998 and 1999? In some Houston circles, the room is referred to, simply, as the Lip Room. Meanwhile, Lou married his stripper girlfriend, now known as Melanie Miller Pai. He probably thanks God every night for giving him that "peculiar fascination" with strippers! From March 1997 until May 2001 Pai was CEO of the EES (Enron Energy Services) subsidiary. The only other person who can probably relate is Mikhail Prokhorov, the Russian billionaire and Brooklyn Nets owner who pretty much owes his entire $10 billion dollar fortune to a private jet full of prostitutes. He is now back in the energy world, according to areportthat quotes unnamed people. 2021 The most popular models were the M5s and the M3s -- "the fast cars," Wickman says. Her father's name is Dr. Robert Miller and her mother's name is Dianne Miller. 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MC Oluomos Son Slams Trolls, I Like This Madam: Female Teacher With Perfect Shape Writes on Blackboard, TikTok Video Goes Viral, 2023 UTME: JAMB Releases More Information on Candidate Registration, Nigerian man becomes lecturer to his nursery school teacher, they meet in class, Full List of Newly Approved Federal, State and Private Universities In Nigeria, Latest JAMB News on JAMB 2023, JAMB Registration 2023, 20th January 2023, 10 Budget-Friendly Cannabis Seed Options for Starting Your Garden, Key Ways for Ensuring Data Security during Cloud Migration, The Best Gadgets Youll Need for Streaming, Why Casino Providers Matter: How to Choose the Right Online Casino. But he almost certainly won't. Lou is 74 years old as of 2021, he was born in1947, in Nanjing, China. With a partner, Kinder went on to formhis ownenergy company. "Rebecca poured gasoline all over the balance sheet, and Andy lit the fuse," he said privately. Pai obtained both his BS and MS from the University of Maryland in College Park, where his father was a math professor. Video Lou Pai. Richard Kinder, Lays college friendwho helped build Enron. Lou Pai: The Only Guy Whos Ever Been Lucky to Get Divorced, the only guy whos ever been lucky to get divorced.. This is the crazy part: His sister is Sue Pai Yang, the first Asian American appointed to be a New Jersey Workers' Compensation judge. He also had a legendary fondness for strippers, and was a frequent habitue of a Houston topless club called Rick's Cabaret. Rosanna Scotto Husband: Louis John Ruggiero Age, Wife, Children, Worth, Who is Lakiha Spicer father: age, net worth, daughter, occupation, wiki, height, bio, all we need to know about Mike Tysons wife. Submit a correction suggestion and help us fix it. 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. (Creative Commons and flickr.com/people/eflon//Eflon). Or purchase a subscription for unlimited access to real news you can count on. Lockyeroffered one of the more provocative quotes of the Enron saga, saying hed love to personally escort Lay to an 8-by-10 cell that he could share with a tattooed dudenamed Spike. This time, they booked a trip with the Chris Haines Motorcycle Adventure Co., a Mexico-based tour group. Photographer: David McNew/Getty Images North America, (Photographer: David McNew/Getty /David McNew), Joe Bidens Immigration Reforms Deserve a Chance to Work, US Teens Feel Down, But the Adults Arent All Right Either, Donald Trumps Border Wall Settles Into a Strange, Costly Afterlife, North Americas Three Amigos Are Off-Key, A Masayoshi Son Buyout of SoftBank Would Look More Like Elon Musk Than Michael Dell. Lou Pai liked to indulge his second wife (whom he met in a strip club) and her passion for fine horses. She is the elder child of her parents. When Lou's wife found out about the pregnancy, she filed for divorce. Pai left Enron abruptly, and he has since vanished into oblivion. It's critical to acknowledge and appreciate the accomplishments of womenand to provide them the same opportunity as men to follow their interests. His wife, upon finding out about it, filed for divorce. "Why are you leaving?" Create a free website or blog at WordPress.com. And it wasn't enough to have one gleaming tower in downtown Houston. So I guess technically he voluntary gave up the $30 million, but he did it to avoid further suits or prosecution. During his Enron career, Skilling put Pai in charge of multiple Enron subsidiaries. He was one of the major figures in Enrons success and was known as the invisible CEO.. We will update this section when the information is available. 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. Sherron Watkins, Enrons former Vice President of Corporate Development. Background. In the US, shealso generously gave to the sport of dressage and sponsors dressage shows, which is also her source of income. He said that Whalley responded by shoving his chair back from the table, seemingly in exasperation. Melanie Fewell, Lou Pai's wife and a former stripper, is well-known for having wed the former Enron executive Lou Pai. 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. After their child was born they moved to Colorado and there Lou turned the second largest landholder after buying a 120 sq. These topics have nothing in common apart from a sort of odd orthographic. FEEDBACK bmclean@fortunemail.com and pelkind@fortunemail.com. 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. Skilling was hired to lead that effortand eventually became CEO of Enron, briefly, before quitting in July 2001 just months after taking the role. This scenario has insulated Pai from charges of insider trading. Pai came to the United States aged two 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 might indeed be one of the few men who have ever lucky to be served divorce papers. During Lou's 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 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. Where are the untouchable vigilantes out there? 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. She and her husband have operated Canaan Ranch together and used to train and raise dressage horses. Lou Pai was a recluse. 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. Privacy Policy. Louis a Chinease-Amercian businessman and former Enrone executive. 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. 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. Once again, all in the same neighborhood. The average price Lou Pai got for his holdings between May and June of 2001 was $72 a share. 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. Received payments from . Since then, Pai has emerged as a partner in Midstream Capital Partners LLC. She was never accused of any involvement in the fraud that emerged in late 2001. Between 1997 and 2001, EES blew through $500 million in operating expenses without ever generating any significant revenues. He was ultimatelyrecalled in 2003, with the states 2000-2001 electricity crisis fresh on voters minds. Pai has kept a low profile ever since leaving Enron. Press J to jump to the feed. Reportedly, her estimated net worth is around $1 million. 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 would conduct meetings at the strip club and treat the top performing salesman with wild back room parties that were all funded by his Enron corporate expense account. Hes not currently listed among the executives on the company website, and attempts to reach him were unsuccessful. Pai was born in Nanjing, China and came to the US at the age of 2. As legend has it, the strippers didn't believe such a mild mannered, almost meek, person was actually a powerful energy CEO. To satisfy the financial . "Lou would prefer not to be a witness," says Jeffrey. 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. He left Enron with over $250 million. 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? 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. 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. Entertainment, In his college years, Lou was considered a mathematical genius. Lou would reportedly visit a particular Houston strip club (located not far from Enron's world headquarters) every night after work. Pai and Fewell together operated Canaan Ranch, located near metropolitan Houston, where they raised and trained dressage horses. Secret Masonic-like super hero ninjas who will slip into his evil world and finish hi moogooguypan. She has remarried and now goes by the name Rebecca Mark-Jusbasche. Skilling lived in a simple, square brick house with his wife and three children. In 2008, Pai settled insider trading charges and agreed to pay regulators $31.5 million. Herancestral home is in Germany. Photographer: F. CARTER SMITH/Bloomberg(BLOOMBERG NEWS/F. 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. Or someone else is a more compelling witness. The Country should be outraged at what he and Lana Lee (Pai) have pulled off. Being a binge-watcher himself, finding Content to write about comes naturally to Divesh. View Melanie Fewell results in Texas (TX) including current phone number, address, relatives, background check report, and property record with Whitepages. The deal went like this: Merrill Lynch agreed to buy three Nigerian power barges from Enron near the end of a quarter, after receiving a verbal guarantee that the barges would be repurchased six months later at a guaranteed profit. These days, though, Walker isn't sure where all of the art is, or how it's being handled. . Pai was later cast in news reports as a symbol of Enrons excess, with an alleged fondness for corporate jets and strip clubs. Delainey recalled objecting to a plan to hide hundreds of millions of dollars in losses, at a meeting of executives. Keep supporting great journalism by turning off your ad blocker. Pai picked up 77,500 acres (along with some partners) in southern Colorado -- land that former shareholders and employees are trying to attach in their lawsuits. [, On July 30, 2008, Pai agreed to resolve the civil. 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. 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. 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. The chronology of accounts and events leading up to the Enron scandal have frequently portrayed Pai as a mysterious figure. 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. She is a believer in Christianity religion. When you put it all together, Lou Pai is one of the luckiest people on the planet. 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. Billing reconciliation. "That's what any lawyer would advise. As you might imagine, coming home every night smelling like gasoline probably isn't a sustainable lifestyle. 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. And not a few hundred dollars, not a few thousand, not a few million, but HUNDREDS of MILLIONS of dollars??? Prosecutors never viewed Mark, whom Skilling finally pushed out in August of 2000, as a target. 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. Find out who you might see at the Enron trial, how they got involved, and what they're doing now. His father was a math professor at the University of Maryland, Collage Park, where Lou would eventually earn both a B.S. Enron had to have two. He also received enormous grants of valuable Enron stock. Pai was born in Nanjing, China and came to the United States at the age of two. Pai and Fewell raised and trained dressage horses on Canaan Ranch, located near metropolitan Houston. The name Enron is still invokedin shorthandlike Theranos,Madoff or Lehmana full two decades after its public ruin. Downtown, across from Enron's gleaming corporate headquarters at 1400 Smith St., an unfinished $200 million, 40-story tower designed to be Enron's twin building sits like a shell. It's what they were put on this planet to do. In August 2001, Watkins alerted Lay to problems with the companys books, warning in a memo that Enron could implode in a wave of accounting scandals. She was lauded as one of Time Magazines persons of the year in 2002 along with two other whistleblowers, Cynthia Cooper of WorldCom and the FBIs Coleen Rowley. As the companyunraveled, it was forced to write off more than $1 billion of failed investments, disclosemajor losses in shareholder equity because of dealings with affiliated partnerships andrestate years of earnings. Create an account to follow your favorite communities and start taking part in conversations. 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. Money, and a peculiar fascination with strippers.". Pai was a founder and is a former chairman of Element Markets, a renewable-energy consulting firm. 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]. There have to be plenty more anecdotes where that came from, once Whalley takes the stand -- or there would be, if he ever does. Upward Bound Only a few years ago, Skilling, Fastow, and Michael Kopper -- Fastow's lieutenant in the Enron scandal, according to conclusions drawn in the Powers report -- all lived within walking distance of one another in the quiet upper-class neighborhood called Southampton Place, which borders Rice University. Melanie Pai was born in 1963 in Houston, Texas, United America. Davis is now an attorney in the Los Angeles office of Loeb & Loeb law firm, where he advises companies, nonprofits and schools. He was convicted by a Houston jury in 2006 of conspiracy, securities fraud, making false statements to auditors and insider trading. 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. James Fallows. $280 million. Super Capron Funk age: biography, Wiki, age, height, family, parents, net worth, Share This Post On WhatsApp, Facebook, Twitter, Instagram & Telegram. To meet his divorce settlement, he cashed out of Enron to an amount believed to be around $300 million just before the collapse. Melanieis a happily married woman. "Exhilarating," "freewheeling," "innovative," in the words of one 30-year-old who leaped three titles in three years. The one he's keeping? His frequent visits to strip clubs led to an affair with a stripper. Upon knowing of the affair, Lou's then-wife of more than 20 years, Lanna, with whom he has 2 biological children, filed for divorce. And before all three men -- Skilling, Fastow and Kopper -- bought new properties, tore down the existing structures, and started building their dream houses. 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. That was June of 2001. He appears to be quite tall in stature if his photos, relative to his surroundings, are anything to go by. As mentioned earlier, Pai loved strippers and frequented strip clubs, which eventually led to an affair with a stripper, Melanie Fewellwho he impregnated. Pai ran Enrons retail energy unit, arriving at the company after stints at ConocoPhillips and DuPont. 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. Custom-designed vacations packaged by a company that does trips for the likes of Lyle Lovett and "Survivor II's" Keith Famie. Her name has hardly been uttered during the trial. Lockyer is now an attorney at the law firm Brown Rudnick. Here are some interesting facts and body measurements you should know about Lou Pai. 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. Andrew Weissmann, former federal prosecutor who led the investigating task force. Pai was CEO of the EES (Enron Energy Services) subsidiary from March 1997 until May 2001. No one expects them to attend anymore. The top 5 percent could expect to be invited to Mexico or Aspen with Skilling. They were a bowling ball that knocked down a lot of bowling pins.. After finding this out, Lou's then-wife of over 20 years of marriage, filed for divorce. "The houses really aren't elaborate for Houston," says one top interior designer in town. 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. She is now known as Melanie Pai. 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. 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