Davis, a Democrat, blamed Enron for gaming Californias power market and contributing to the blackouts that roiled the state. View Melanie Pai's profile on LinkedIn, the world's largest professional community. . 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? Further, after the divorce settlement, Lou and Melanie were married. On July 30, 2008, Pai agreed to resolve civil insider trading charges against him with an out-of-court settlement of $31.5 million, including $1.5 million in civil fines and $30 million in res*ution, to be deposited into a fund for shareholders harmed by Enron's bankruptcy. Who Is Lou Pai's Wife, Melanie Fewell? Lou Pai earned his net worth through his tenure serving as the CEO of Enron Energy Services and Enron Xcelerator, a venture capital division of Enron. Lou was born in 1947, in Nanjing, China, and came to the United States at the age of 2 years. During his time at the now-defunct energy company, Pai was often referred to as "the . 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. If ever there were a juicy government target, Lou Lung Pai would seem to be it. The pair is now raising thoroughbreds in Houston and is regarded Read More Melanie Fewell, Lou Pai's wife and a former stripper, is well-known for having wed the former Enron executive Lou Pai. FEEDBACK bmclean@fortunemail.com and pelkind@fortunemail.com. They have three. 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. They were a bowling ball that knocked down a lot of bowling pins.. Lou is a Chinease-Amercian businessman and former Enrone executive. 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. "And it was fun because it took about two minutes to do a deal.". 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. He walked away just below the peak of Enron's stock price with an estimated. 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. She holds an American nationality. Pai has kept a low profile ever since leaving Enron. 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. 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. Lockyer is now an attorney at the law firm Brown Rudnick. . Apr 3, 2006 - Where, for example, is Lou Pai, the enigmatic Jeff Skilling confidant. So he then married Melanieand she quit her job as an exotic dancer. 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. Andrew Weissmann, former federal prosecutor who led the investigating task force. In March of 1997, Lou was named CEO of a subsidiary called Enron Energy Services (EES). Pai obtained both his B.S. After the divorce from his first wife was finalized Lou Pai did end up marrying the exotic dancer he impregnated, Melanie Fewell. Because strippers are absolute Zen masters when it comes to extracting money from men. Sherron Watkins, the whistleblower who started it all. 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. In order to avoid getting caught by his wife, on his way home Lou would stop by a gas station and splash a little bit of gasoline on himself to get rid of the stripper scent. According to the wiki, she married Lou Lung Pai in 2001 and is still going strong. It was quite a ride they took, Enron's top brass. 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. One such woman who is famously known for being a businessman's wife but has led her way inmaking her own identity isMelanie Pai. Further, she completed her graduation in management and finance from the University of Tulsa. All rights reserved. He left Enron six months before it collapsed in late 2001, pocketing more than $265 million from exercising Enron options and selling stock. 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. With a partner, Kinder went on to formhis ownenergy company. 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. In 2008, Pai settled insider trading charges and agreed to pay regulators $31.5 million. He probably thanks God every night for giving him that "peculiar fascination" with strippers! He was close to Skilling, he ran the controversial Enron Energy Services division, and he netted a mind-blowing fortune from Enron stock. Marshals to the Bob Casey Federal Courthouse in Houston, Texas, in 2006. Pai and Fewell together operated Canaan Ranch, located near metropolitan Houston, where they raised and trained dressage horses. Another time, it was off-road racing in Land Cruisers in the Australian outback. Lay loved real estate ventures. Super Capron Funk age: biography, Wiki, age, height, family, parents, net worth, Share This Post On WhatsApp, Facebook, Twitter, Instagram & Telegram. The Stray Season 2 - Is It Renewed Or Cancelled? Overview. Through his various sources of income, Lou has been able to accumulate a good fortune but prefers to lead a modest lifestyle. Lou worked for the federal government in the 1970s before joining Enron. CARTER SMITH). [, A mathematics wiz, he was instrumental in getting Enron into the trading business. 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. Lou eventually became one of Enron CEO Jeff Skilling's most trusted and highest ranking executives. (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. And not a few hundred dollars, not a few thousand, not a few million, but HUNDREDS of MILLIONS of dollars??? Oh, and just like Mr. Pai, Melanie also happened to be married with two kids. Reddit and its partners use cookies and similar technologies to provide you with a better experience. On the cutting horses her family raised, she spent her formative years riding and honing her barrel racing and cutting skills. Home; About Us. Pais resignation from Enron and his reasons for doing so remain shrouded in mystery. Create your own unique website with customizable templates. Dana Carvey Net Worth : How Rich Is The American Comedian In 2023? Lou Pai was a former executive at Enron, a trading firm for energy that rose quickly and fell much faster. Nor will some other highly colorful players in the Enron saga show their faces inside the courtroom. Natalie Pai isa rising star in dressage andthe youngest competitor in history to bring two horsesto compete at the Festival of Champions. 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. in economics from the University of Maryland, College Park, where Lous father, Shih-I Pai, was an aeronautics professor. She is well-known for being Lou Pai wife but sheis also a famous entrepreneur and runs a Texas horse facility andCanaan Ranch in Fulshear. All content of the Dow Jones branded indices S&P Dow Jones Indices LLC 2018 She is now known as Melanie Pai. She sold more than $80 million worth of Enron stock near its high. At the time Lou joined Enron, the company was still a mid-sized, regional energy supplier. Enron Complex in Houston Texas. Will the law of limited variety stand the test of time and changingenvironments? Apr 3, 2006 - Where, for example, is Lou Pai, the enigmatic Jeff Skilling confidant. The neighborhood where Lay lives. The total value Lou Pai was left with after every share was sold? As part of the settlement, Pai was also barred from serving as an officer or director of a public company for five years. He became one of (eventual) CEO Jeffrey Skilling's top lieutenants, primarily tasked with detailing and implementing Skilling's vision of transforming Enron into a de facto energy commodities-trading firm. These topics have nothing in common apart from a sort of odd orthographic. 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. After the Enron scandal, they have generally avoided the spotlight, thus details about their relationship are scarce. Skilling couldnt be reached, and his lawyer didnt immediately return messages seeking comment. EES wanted to create an alternative private sector option that allowed consumers to buy energy on the free market, direct from a utility. 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. Louis a Chinease-Amercian businessman and former Enrone executive. In the year 1987, he joined Enron when it was just a regional energy supplier. 135 Followers, 188 After, 10 Posts - See photos and videos from Instagram Melanie Fewell (@melaniefewell9) After learning about the problem, Pai's wife, who is over 20 years old, Lanna, with whom she has two . 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]. He has insisted he did nothing wrong, and he has not been charged. When you put it all together, Lou Pai is one of the luckiest people on the planet. Sounds insane right? This includes his assets, money, and income. He said that Whalley responded by shoving his chair back from the table, seemingly in exasperation. Just months later, Enrons stock prices dramatically collapsed and it filed for bankruptcy protection. It was an out of court settlement. 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