As part of the settlement, Pai was also barred from serving as an officer or director of a public company for five years. To satisfy the financial . Upon learning of the affair, Pai's then-wife of over 20 years Lanna, with whom he has two children, filed for divorce. under which this service is provided to you. 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. Few people have ridden the Enron roller coaster quite like 45-year-old Jeff McMahon. To meet his divorce settlement, he cashed out of Enron to an amount believed to be around $300 million just before the collapse. Billing reconciliation. The neighborhood where the rich live in Houston. 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. Download Script Php Website Sekolah Gratis, Linux Dominar La Administracion Del Sistema 4a Edicion Pdf, Soil Profile Visualization Software Vislog, Download Gratis Mp3 Ronnie Davis My World (acoustic [official Video 2017. The South African Gas Development Company. 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. But he almost certainly won't. He's been on the defense witness list, but he would almost certainly take the Fifth if called. The Fast Track The trip was to Mexico, to race motorcycles in the famed Baja 1000. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. 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. After all, bad business judgment isn't a crime -- or maybe someone else presented a better prosecution target. Pai was CEO of the EES (Enron Energy Services) subsidiary from March 1997 until May 2001. Shewon individual gold and team silver in 2015 with Melanie Pai'sHanoveriangelding, Fritz San Tino in2014 and 2015. Pai departed Enron months before it filed for bankruptcy; the reason for his departure is unknown, but he sold out his remaining stock. From March 1997 until May 2001 Pai was CEO of the EES (Enron Energy Services) subsidiary. The top 5 percent could expect to be invited to Mexico or Aspen with Skilling. James Fallows. 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. Through Element, Pai has invested in pollution emissions credits. 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 Stray Season 2 - Is It Renewed Or Cancelled? Together, with their newborn child, the couple moved to Colorado where Lou became the second largest land. He joined Enron in 1987 and quickly climbed the ranks. I've never been in a Chapter 11 situation before. I bet those guys would get along very well. Wayne Wickman -- who runs the dealership -- used to love it when he saw Enron traders come through his door. Money, and a peculiar fascination with strippers.". The total value Lou Pai was left with after every share was sold? Where is Rebecca Mark, the hard-charging glamour girl who planted troubled Enron energy and water projects around the globe? He left Enron with over $250 million. Skilling had a yen for travel adventures. Lou {Full name Lou Lung Pai (Chinese: ; pinyin: Bi Lulng)} is a Chinese-American businessman and former Enron executive. 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. 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]. 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. They were a bowling ball that knocked down a lot of bowling pins.. He has insisted he did nothing wrong, and he has not been charged. No title providedAndrew Fastow is escorted by U.S. Enron executives -- particularly Fastow -- envisioned this collection as one that would be mentioned in the same breath as those held by companies like Chase Manhattan and Paine Webber. 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. As owner of the Taylor Ranch, Pai owned a 14,047 foot, Pai is currently investing in pollution emission credits at Element Markets, LLC. Davis Stumps Across CalfiorniaGray Davis speaks at an anti-recall rally in San Jose, California, in 2003. Hebought a publicly traded liquids pipeline company from Enron and turned it into one of the largest U.S. energy infrastructure companies in the world: Kinder Morgan Inc. Kinder is today worth $7.8 billion, ranking 346 on the Bloomberg Billionaires Index. By getting his stripper girlfriend pregnant, he was forced to sell off every single share of Enron he ever owned. And, from the looks of life in Houston these days, it still is. Pai left Enron with over $280 million after selling a substantial amount of his shares. To stabilize the situation, he authorized the state to buy expensive power contracts that were paid off by customers over 20 years. Upon learning of the affair, Pai's then-wife of over 20 years, Lanna, with whom he has two biological children, filed for divorce. Skilling's house is decorated in a sleek, black-and-white theme, in homage to Enron's corporate colors. He also had a legendary fondness for strippers, and was a frequent habitue of a Houston topless club called Rick's Cabaret. 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. Her father's name is Dr. Robert Miller and her mother's name is Dianne Miller. No more high paying job, his stripper girlfriend was pregnant, his marriage was destroyed and divorce proceedings were underway. Lou Lung Pai (Chinese: . Create a free website or blog at WordPress.com. Once, they climbed the glaciers in Patagonia. 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. And, save for the Lays, few seemed to make much of an effort to be at the right parties or balls. 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. 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. However, details regarding his actual height and other body measurements are currently not publicly available. He wrote a book about that probe, Where Law Ends, andnowteaches at New York University Law School. One theme of the prosecution has been the abymsal state of both Enron's international assets and its water business, Azurix. iGas Mandate; Vision and Mission; Company Structure. He also exercised several hundred thousand Enron options. "Lou would prefer not to be a witness," says Jeffrey. Here, young Ivy Leaguers believed they could reinvent not just the energy business but the American business model, the whole U.S. economy. All rights reserved. Photographer: F. CARTER SMITH/Bloomberg(BLOOMBERG NEWS/F. [3] mile ranch. And not a few hundred dollars, not a few thousand, not a few million, but HUNDREDS of MILLIONS of dollars??? As you might imagine, coming home every night smelling like gasoline probably isn't a sustainable lifestyle. Lous sister is Sue Pai Yang, the first Asian American appointed to be a New Jersey Workers Compensation judge. After the divorce from his first wife was finalized Lou Pai did end up marrying the exotic dancer he impregnated, Melanie Fewell. Meanwhile, Lou married his stripper girlfriend, now known as Melanie Miller Pai. If ever there were a juicy government target, Lou Lung Pai would seem to be it. 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. In order to pay the costly financial terms of his divorce settlement, Lou Pai was forced to cash out 100% of his Enron stock. This includes his assets, money, and income. Staff researcher Lynn Davis contributed to this story. Privacy Policy. (The government has ruthlessly narrowed its case, never calling two witnesses when one might do.). A Muddled Display Pre-printed invitations to local charity events are still arriving in the best Houston mailboxes with Ken and Linda Lay listed among the hosts. Pai was later cast in news reports as a symbol of Enrons excess, with an alleged fondness for corporate jets and strip clubs. and/or its affiliates. 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? 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. The best of Latin America and the Hispanic world. Cable News Network. 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. On cross-examination, Skilling attorney Daniel Petrocelli asked: "So I guess what you're saying is that all these people were in on this massive fraud, right?". At this point, Enron's top executives like Ken Lay and Jeff Skilling were quietly unloading massive amounts of their personal shares while simultaneously telling their own employees and outside investors that this was a GREAT time to buy more stock because Enron was sure to rebound imminently. "Exhilarating," "freewheeling," "innovative," in the words of one 30-year-old who leaped three titles in three years. 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. Since then, Pai has emerged as a partner in Midstream Capital Partners LLC. 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 the culture over there -- they were thoroughbreds, bred for speed.". Pai was born in Nanjing, China and came to the United States at the age of two. 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. You won't see him hanging around the courthouse. Pai's frequent strip club visits during his time at Enron proved to be a blessing in disguise. Oh, and just like Mr. Pai, Melanie also happened to be married with two kids. Rebecca Mark, who built Enrons water business. NowMark-Jusbasche, she invests in energy technology, water and agricultural projects with a focus on sustainable development, according to her LinkedIn profile. Keep supporting great journalism by turning off your ad blocker. As one of the anchors, they purchased a piece by famed minimalist Donald Judd. Submit a correction suggestion and help us fix it. Marshals to the Bob Casey Federal Courthouse in Houston, Texas, in 2006. Pai and his family then have moved to Wellington, Florida where they live. It wasn't enough for Lay to have one house in Aspen, he had to have four. Further, after the divorce settlement, Lou and Melanie were married. "Yeah, that was a little dirty," Delainey says Whalley remarked. He was ultimatelyrecalled in 2003, with the states 2000-2001 electricity crisis fresh on voters minds. 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. And Kopper and his partner William Dodson opted for a postmodern abode -- boxy, all white and beige and glass and hard angles. And though he has been on the defense witness list for Skilling and Lay's trial, it seems highly improbable he will take the stand in Houston. 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. 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. When the bankruptcy occurred in December, more than a dozen pieces had been collected, costing in the millions, and the committee was in the process of reviewing proposals by artists for solicited pieces as well. Together, with their newborn child, the couple moved to Colorado where Lou became the second largest land holder in the entire state after purchasing a 120 square mile ranch in the Sangre de Cristo mountain range. Lou was born in 1947, in Nanjing, China, and came to the United States at the age of 2 years. Despite a reputation for being extremely introverted, taciturn, and reclusive around the office, Pai also came to symbolize the legendary lavishness and excesses of Enron's corporate culture. He didn't admit wrongdoing, and he wasn't charged criminally. Ultimately Pai settled out of court with the SEC and deposited 31.5 million in a fund to aid the shareholders harmed by the Enron scandal; forfeiting far less than what he gained from his time in Enron. "The worst people could say of him was that he didn't manage EES well, and I'm not sure that's true. "And it was fun because it took about two minutes to do a deal.". Another time, it was off-road racing in Land Cruisers in the Australian outback. "Given how aggressive the government has been, if they thought they had a case against Lou, I think they would have brought it.". ----- . Description above from the Wikipedia article Lou Pai, licensed under CC-BY-SA, full list of contributors on Wikipedia. It was probably hard to do because at the time, Enron was absolutely kicking ass as a company and as a stock. 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. Glisan said Whalley knew it was wrong to be using reserves as an earnings-management cookie jar. Mar 28, 2009 Update on Xobni, Lou Pai (updated!) So now Skilling resides in a mammoth Mediterranean-style home with a tile roof, and he's engaged to Rebecca Carter (the one known as Va Voom), who under Skilling was promoted to executive secretary to Enron's board of directors at a salary of $600,000. 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. She is now known as Melanie Pai. We will update this section when the information is available. Pai obtained both his B.S. Melanie Fewell, Lou Pai's wife and a former stripper, is well-known for having wed the former Enron executive Lou Pai. And a horse so famous it was invited to perform at Linda McCartney's funeral. FEEDBACK bmclean@fortunemail.com and pelkind@fortunemail.com. If only all of Enron's former executives could recycle their reputations. 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. 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. Scandals & Rumors. One of the horses he bought for her is named Gucci. The one he's keeping? 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. (Creative Commons and flickr.com/people/eflon//Eflon). Actually, Lou Pai's penchant for strip clubs wasn't a reputation, it was a legend. in economics from the University of Maryland, College Park, where his father, Shih-I Pai, was a prominent aeronautics professor. His wife, Lea, also worked at Enron, where she was an assistant treasurer; she was sentenced to a year in prison. Being a binge-watcher himself, finding Content to write about comes naturally to Divesh. 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]. Melanie fewell lou pai Sneha Girap (Editor)I Love to read n write about Things that I find Interesting Covid-19Lou Lung Pai (Chinese: ; pinyin: Bi Lulng) born in Nanjing, China in 1947, is a Chinese-American businessman and former Enron executive. See the complete profile on LinkedIn and discover Melanie's . 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. Between 1997 and 2001, EES blew through $500 million in operating expenses without ever generating any significant revenues. Fewell married.Pai and his current wife operated Canaan Ranch, located near . Meanwhile, McMahon has gone about his life, landing in 2004 as president of a Houston company called Zilkha Biomass Energy, a renewable-energy outfit. On December 2, 2001, Enron filed for bankruptcy. Morningstar: 2018 James Fallows. Shortly before Enron went belly up Lou Pais wife at the time filed for divorce, and her timing could not have been more perfect. They also frequently made their way over to Advantage BMW. 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. Super Capron Funk age: biography, Wiki, age, height, family, parents, net worth, Share This Post On WhatsApp, Facebook, Twitter, Instagram & Telegram. . CARTER SMITH). Where are the untouchable vigilantes out there? 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. as well as M.S. It led to an affair with stripper Melanie Fewell (who was also married) and resulted in a pregnancy. Pai was not charged with any criminal wrongdoing in the Enron scandal and exercised his Fifth Amendment rights in regard to the subsequent Enron cl* action lawsuits. Bigger houses, better boats, new wives. 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. Jan 2008 - Jun 20124 years 6 months. Louis a Chinease-Amercian businessman and former Enrone executive. 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.". All times are ET. The bottom 5 percent could expect to be sent to the redeployment office, also known as the "office of shame," where they got a phone and a desk and a chance to be rehired by another division. By pleading the 5th Pai has kept himself from testifying in the trials of other Enron executives, and has avoided being charged himself. 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. According to the wiki, she married Lou Lung Pai in 2001 and is still going strong. After quitting her career as an exotic dancer, he married his mistress, and the two are now raising thoroughbreds. [2] Evil chink. Will the law of limited variety stand the test of time and changingenvironments? And more importantly, how much did his wife get? And everybody had their thing: Fastow liked art. 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. Baxter adored boats. 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. Lou Lung Pai (Chinese: ; pinyin: Bi Lulng) (born 23 June 1947) is a Chinese-American businessman and former Enron executive. 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. 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