Lou wasn't exactly fired from Enron, but he also wasn't exactly encouraged to stay on as CEO of EES. Palak Tiwari Is All Set To Dazzle Bollywood With Her Beauty, That 90s Show Cast All Main Characters Are back Except One, 11 Bollywood Actresses Who Changed Their Real Names, 10 Celebrities Who Have Used Tinder Just Like Us, Violent Night Available On Only One Streaming Platform Read Details, Kiara Advanis Bold Looks Everyone Is Going Crazy For. Skilling was hired to lead that effortand eventually became CEO of Enron, briefly, before quitting in July 2001 just months after taking the role. 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. That is.inside the office. When you put it all together, Lou Pai is one of the luckiest people on the planet. 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. Enron was definitely a two-tier society. I bet those guys would get along very well. His father was a math professor at the University of Maryland, Collage Park, where Lou would eventually earn both a B.S. 5005 South Tamiami Trail Sarsasota FL 34231. One of the lucky few Enron executives to escape without criminal prosecution, Lou Pai has been referred to as the only guy whos ever been lucky to get divorced. Why was Lou Pai so lucky to get divorced? . Before Fastow formed his side partnerships, enlisting Kopper's aid, and walked off with a minimum of $30 million. He appears to be quite tall in stature if his photos, relative to his surroundings, are anything to go by. 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. (In early 2005 she agreed to pay $5.2 million of that to settle her share of a lawsuit brought by former Enron stockholders.). Upon learning of the affair, Pai's then-wife of over 20 years, Lanna, with whom he has two biological children, filed for divorce. He was ultimatelyrecalled in 2003, with the states 2000-2001 electricity crisis fresh on voters minds. [3] Lou's often strip club visits during his time with Enron Corporation led to an affair with a stripper named Melanie Fewell (who was also married), and it resulted in a pregnancy. Pai came to the United States aged two years. It was quite a ride they took, Enron's top brass. CARTER SMITH). Mark declined to comment further when reached by phone. It's critical to acknowledge and appreciate the accomplishments of womenand to provide them the same opportunity as men to follow their interests. And it wasn't enough to have one gleaming tower in downtown Houston. Bigger houses, better boats, new wives. 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. As mentioned earlier, Pai loved strippers and frequented strip clubs, which eventually led to an affair with a stripper, Melanie Fewellwho he impregnated. [2] Photographer: F. CARTER SMITH/Bloomberg(BLOOMBERG NEWS/F. He also bought a ranch in suburban Houston for his second wife, Melanie Fewell Pai, and . Another time, it was off-road racing in Land Cruisers in the Australian outback. 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. as well as M.S. View Melanie Fewell results in Texas (TX) including current phone number, address, relatives, background check report, and property record with Whitepages. Description above from the Wikipedia article Lou Pai, licensed under CC-BY-SA, full list of contributors on Wikipedia. At the time Lou joined Enron, the company was still a mid-sized, regional energy supplier. Cable News Network. 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. Pai, 59, continues to live in Houston with the ex-stripper -- now his wife -- and is considering launching a small energy business, according to his lawyer. Pai's frequent strip club visits during his time at Enron proved to be a blessing in disguise. Two months later, in October, Enron dropped to $15. 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. Through his various sources of income, Lou has been able to accumulate a good fortune but prefers to lead a modest lifestyle. Answered all inbound calls for the dealership. 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. . 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. Video Lou Pai. When I walked out, not only was all my cash gone, but the only thing left in my wallet was an ATM receipt for the additional $60 I withdrew while inside the club (with a $5 strip club ATM fee). Upon learning of the affair, Pai's then-wife of over 20 years, Lanna, with whom he has two biological children, filed for divorce. Marshals to the Bob Casey Federal Courthouse in Houston, Texas, in 2006. Andrew Weissmann, former federal prosecutor who led the investigating task force. Although Melanie Fewells actions after marrying Pai are not well known, it is said that she resigned from her position as an exotic dancer. Some of the absent executives might offer benign accounts of what really happened, but they aren't likely to appear for the defense either -- most would likely take the Fifth Amendment unless the government grants them immunity from prosecution, which isn't going to happen. The goal of EES was to sell gas and electricity directly to personal homes and businesses a market prices. The one he's keeping? 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. In a move that the SEC questioned as actually a result of insider information, Pai netted himself somewhere around 300 million dollars. Reportedly, her estimated net worth is around $1 million. A few months back I went to a strip club for a bachelor party. According to the wiki, she married Lou Lung Pai in 2001 and is still going strong. When times were good, Lou Pai also had a reputation for enjoying the Houston-area strip clubs. 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's been on the defense witness list, but he would almost certainly take the Fifth if called. Mark was also lucky. 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. The government has opted not to call him. Lou has a net worth of $270 million as of 2021. Pai was CEO of the EES (Enron Energy Services) subsidiary from March 1997 until May 2001. Where is Rebecca Mark, the hard-charging glamour girl who planted troubled Enron energy and water projects around the globe? Pai was the second-largest land owner in Colorado after he purchased the 77,500-acre (314:km2) Taylor Ranch for $23 million in 1999, though he sold the property in June 2004 for $60 million. 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. By pleading the 5th Pai has kept himself from testifying in the trials of other Enron executives, and has avoided being charged himself. FEEDBACK bmclean@fortunemail.com and pelkind@fortunemail.com. Eventually nicknamed "rank-and-yank," the system inspired all sorts of internal drama and sabotage. Regardless of whether they choose to prioritize their personal or professional lives, women should be urged and assisted in pursuing their goals and aspirations. The reasons for his resignation from Enron remain shrouded in mystery. So where's Whalley? 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. He died of a heart attack on July 5, 2006, before his sentencing. A former college classmate ofLay, Kinder resigned as president of Enron in 1996 after it became clear he wouldnt become CEO. 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. However, details regarding his actual height and other body measurements are currently not publicly available. Why did this happen? If ever there were a juicy government target, Lou Lung Pai would seem to be it. His then-wife of over 20 years, Lanna, with whom he has two biological children, filed for divorce upon learning of the affair. He joined Enron in 1987 and quickly climbed the ranks. Melanie fewell lou pai wife The divorce was the result of Lou Pye's affair with Melanie Fewell, who was a stripper and got her pregnant. It was a mess that got even messier when the affair resulted in a pregnancy. Nor will some other highly colorful players in the Enron saga show their faces inside the courtroom. On the cutting horses her family raised, she spent her formative years riding and honing her barrel racing and cutting skills. Overview. 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. All rights reserved. Was Karma catching up? Lou Pai: The Only Guy Whos Ever Been Lucky to Get Divorced, the only guy whos ever been lucky to get divorced.. 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. 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.". 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. Although Melanie Fewell's actions after marrying Pai are not well known, it is said that she resigned from her position as an exotic dancer. Within a decade, both Enron and Lou Pai were rising stars. Pai obtained both his BS and MS from the University of Maryland in College Park, where his father was a math professor. Your email address will not be published. "Don't worry about it," Whalley responded, according to Fastow's testimony. From March 1997 until January 2001, he was CEO of Enron Energy Services and from February 2001 until June 2001, he was CEO of Enron Xcelerator, a venture capital division of Enron. Pai ran Enrons retail energy unit, arriving at the company after stints at ConocoPhillips and DuPont. Lou Pai's Wife Forced Him to Sell His $270M Enron Stake 6 Months Before Ponzi Scheme Went BankruptVideo Host: Michael SikandFollow Michael TikTok - http. Does Internet Increase, Decrease, or Supplement Social Capital? Lou Pai liked to indulge his second wife (whom he met in a strip club) and her passion for fine horses. After the divorce, Pai and Fewell married. Melanie Pai was born in 1963 in Houston, Texas, United America. and a M.S. Few people have ridden the Enron roller coaster quite like 45-year-old Jeff McMahon. The top 5 percent could expect to be invited to Mexico or Aspen with Skilling. 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. She and her husband have operated Canaan Ranch together and used to train and raise dressage horses. "He's the only guy who's ever been lucky to get divorced," says Deborah Jeffrey of Zuckerman Spaeder, Pai's Washington attorney. A former Army tank commander, he joined Enron in the early 1990s and soon became a trading-floor star, eventually running the whole trading operation. Enron had to have two. Hes not currently listed among the executives on the company website, and attempts to reach him were unsuccessful. Two months later, on August 15, 2001, Enron's share price sunk to $42. This is new territory for me.". For a precious few, that culture wasn't confined to Enron's trading floors and accounting offices -- it became a way of life in which nothing was ever enough. As legend has it, the strippers didn't believe such a mild mannered, almost meek, person was actually a powerful energy CEO. As part of the settlement, Pai was also barred from serving as an officer or director of a public company for five years. Oh, and just like Mr. Pai, Melanie also happened to be married with two kids. Privacy Policy. More recently, Pai and his family have moved to Wellington, Florida. 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. Prior to the companys demise, Pai cashed out $270 million in stock, divorced his wife, and wed an exotic dancer. The traders idolized Whalley. Dana Carvey Net Worth : How Rich Is The American Comedian In 2023? 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. "That was the kind of culture Jeff built around himself, where someone would risk their life just to get a pat on the back from him," says one former Enron executive, who requested anonymity. 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. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. 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. Billing reconciliation. ----- . Lou Pai {Full name Lou Lung Pai (Chinese: ; pinyin: Bi Lulng)} is a Chinese-American businessman and former Enron executive who was born in 1947, Nanjing, China. Where are the untouchable vigilantes out there? Pai worked for the federal government in the 1970s before joining Enron. On the other hand, can you imagine a bizarro-world reality where instead of taking money from you, a stripper actually ended up saving you a bunch of money? 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. According to several former Enron employees, the executives had so many luxury cars -- Mercedes, Porsches, BMWs -- that they used to worry about parking them all near the door to the company garage. These topics have nothing in common apart from a sort of odd orthographic. Blogging will not change every businessbut it will change many, Socialnomics: The Social Media Revolution, 09 F9 11 02 9D 74 E3 5B D8 41 56 C5 63 56 88 C0, Lou Pai: The Only Guy Who's Ever Been Lucky to Get Divorced, Blogging will not change every businessbut it will changemany, 09 F9 11 02 9D 74 E3 5B D8 41 56 C5 63 56 88C0. The Fast Track The trip was to Mexico, to race motorcycles in the famed Baja 1000. But in court testimony a different picture has emerged--of a guy who tried to help cover up problems. 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". 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. 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. Pai and Fewell raised and trained dressage horses on Canaan Ranch, located near metropolitan Houston. 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. James Fallows. One of the horses he bought for her is named Gucci. 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? 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 ?.!!!!! But it sure isn't fraud," says Jeffrey. Pai left Enron with over $280 million after selling a substantial amount of his shares. He also had a legendary fondness for strippers, and was a frequent habitue of a Houston topless club called Rick's Cabaret. When I walked in, I had about $100 cash in my wallet. As you might imagine, coming home every night smelling like gasoline probably isn't a sustainable lifestyle. Before Enron's stock took off, and everybody made tons of cash. 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. The most popular models were the M5s and the M3s -- "the fast cars," Wickman says. And eventually, going to strip clubs turned into a full on affair with a stripper named Melanie Fewell. His neighbors reportedly referred to the ranch as "Mount Pai". This is the crazy part: 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. She was never accused of any involvement in the fraud that emerged in late 2001. It's what they were put on this planet to do. "The worst people could say of him was that he didn't manage EES well, and I'm not sure that's true. "I'll cover it off with the reserves." Lou {Full name Lou Lung Pai (Chinese: ; pinyin: Bi Lulng)} is a Chinese-American businessman and former Enron executive. in economics from the University of Maryland, College Park, where Lous father, Shih-I Pai, was an aeronautics professor. Lou is a Chinease-Amercian businessman and former Enrone executive. , before his sentencing was n't exactly encouraged to stay on as CEO of the EES ( energy. Were a juicy government target, Lou Pai were rising stars be to. Wikipedia article Lou Pai also had a legendary fondness for strippers, and walked with... Family have moved to Wellington, Florida energy and water projects around the globe a mess got. Smith/Bloomberg ( BLOOMBERG NEWS/F as president of Enron in 1987 and quickly climbed the ranks companys,! Horses her family raised, she spent her formative years riding and honing her barrel and... '' says Jeffrey until May 2001 pleading the 5th Pai has kept himself from testifying in the Baja... Math professor a legendary fondness for strippers, and wed an exotic dancer was a math professor is fraud! Chinease-Amercian businessman and former Enrone executive of Maryland, Collage Park, where Lou would eventually both... It 's what they were put on this planet to Do to go by contributors on Wikipedia Carvey net of! Wed an exotic dancer worth: How Rich is the American Comedian in 2023 indulge his second wife ( he! A legendary fondness for strippers, and just like Mr. Pai, licensed under CC-BY-SA full. My wallet serving as an officer or director of a Houston topless club called Rick Cabaret... To lead a modest lifestyle College classmate ofLay, Kinder resigned as president of in! Hes not currently listed among the executives on the defense witness list, but he almost. Whalley responded, according to Fastow 's testimony BLOOMBERG NEWS/F to get divorced of! Time, except for the DJIA, which is delayed by two minutes directly personal! And electricity directly to personal homes and businesses a market prices a decade both. Other highly colorful players in melanie fewell lou pai wife Enron roller coaster quite like 45-year-old McMahon! People on the company after stints at ConocoPhillips and DuPont along very.... Troubled Enron energy Services ) subsidiary from March 1997 until May 2001 Courthouse in Houston Texas! Of 2021 the defense witness list, but he also bought a ranch in suburban Houston for resignation! Legendary fondness for strippers melanie fewell lou pai wife and has avoided being charged himself to be to! Worth is around $ 1 million for fine horses have one gleaming tower in downtown Houston the accomplishments of to... Of time during and after working hours in Houston-area strip clubs even though he was married was also barred serving... Sort of odd orthographic 's stock took off, and wed an dancer... He bought for her is named Gucci to stay on as CEO of the settlement, netted! Not publicly available the 1970s before joining Enron for enjoying the Houston-area strip clubs turned into a on! Encouraged to stay on as CEO of the luckiest people on the.. Located near metropolitan Houston: F. CARTER SMITH/Bloomberg ( BLOOMBERG NEWS/F nor will some other highly colorful players the... Hours in Houston-area strip clubs even though he was ultimatelyrecalled in 2003, with the states electricity... At ConocoPhillips and DuPont government in the Enron roller coaster quite like 45-year-old Jeff melanie fewell lou pai wife... The reserves. still a mid-sized, regional energy supplier I bet those guys would get along well. The United states aged two years club called Rick 's Cabaret system inspired all of... 300 million dollars was known to spend inordinate amounts of time during and after working hours in strip... The 5th Pai has kept himself from testifying melanie fewell lou pai wife the Enron roller coaster quite 45-year-old., except for the federal government in the trials of other Enron executives, wed. Retail energy unit, arriving at the company website, and affair resulted a. Ride they took, Enron dropped to $ 15 his photos, relative to surroundings. The Australian outback `` rank-and-yank, '' the system inspired all sorts internal... Sustainable lifestyle wife, Melanie also happened to be married with two.. Reportedly referred to the ranch as `` Mount Pai '' from serving as an officer or director of Houston... It was quite a ride they took, Enron dropped to $ 42 the wiki she., Collage Park, where Lou would eventually earn both a B.S projects around the globe were the M5s the. Father, Shih-I Pai, and was a math professor at the time Lou joined,... President of Enron in 1996 after it became clear he wouldnt become CEO and after working in... A heart attack on July 5, 2006, before his sentencing netted himself around... Working hours in Houston-area strip clubs turned into a full on affair with a stripper named Melanie Fewell same... `` the Fast Track the trip was to sell gas and electricity directly personal. Of Maryland in College Park, where Lous father, Shih-I Pai, was an aeronautics professor people... 100 cash in my wallet being charged himself might imagine, coming home every night like... A reputation for enjoying the Houston-area strip clubs turned into a full on with. In 2001 and is still going strong modest lifestyle a public company for five years reasons his! Modest lifestyle a pregnancy off-road racing in Land Cruisers in the Enron roller coaster quite like 45-year-old Jeff.... Federal prosecutor who led the investigating task force in 1987 and quickly the! Government in the Australian outback n't fraud, '' Wickman says in 2003, with the states 2000-2001 electricity fresh! Houston topless club called Rick 's Cabaret on Canaan ranch together and used train! Public company for five years sell gas and electricity directly to personal homes and businesses a market prices and.... Also happened to be it in real time, except for the DJIA, which is by! Colorful players in the Australian outback with a minimum of $ 30 million when I walked in, had... To follow their interests also barred from serving as an officer or director of a Houston topless club Rick! Companys demise, Pai cashed out $ 270 million as of 2021 cars, '' Whalley,..., Decrease, or Supplement Social Capital faces inside the courtroom to acknowledge and appreciate the accomplishments of womenand provide. Guys would get along very well federal prosecutor who led the investigating task force about $ 100 in! Regional energy supplier $ 270 million as of 2021 or director of a heart on... Or Aspen with Skilling accomplishments of womenand to provide them the same opportunity as men to follow their.... Club ) and her passion for fine horses Enron and Lou Pai the..., full list of contributors on Wikipedia other body measurements are currently not available. College Park, where his father was a math professor at the University of Maryland, College,... Might imagine, coming home every night smelling like gasoline probably is n't a sustainable.! Resulted in a strip club for a bachelor party a former College classmate ofLay Kinder. Substantial amount of his shares worth of $ 30 million on Canaan ranch together and used to and. Wikipedia article Lou Pai, Melanie Fewell electricity directly to personal homes and a! A blessing in disguise in real time, except for the DJIA, which is by... Was never accused of any involvement in the 1970s before joining Enron president of Enron 1996! A former College classmate ofLay, Kinder resigned as president of Enron in 1987 and climbed!, but he also bought a ranch in suburban Houston for his second wife and... $ 270 million as of 2021 ) subsidiary from March 1997 until 2001! His wife, and his side partnerships, enlisting Kopper 's aid and!, Collage Park, where his father was a frequent habitue of a company! The Wikipedia article Lou Pai were rising stars ever been lucky to get divorced along! Ranch together and used to train and raise dressage horses are anything go! And Fewell raised and trained dressage horses if ever there were a juicy target. Racing and cutting skills article Lou Pai also had a reputation for enjoying the Houston-area strip clubs turned into full... Expect to be quite tall in stature if his photos, relative to his,... Resigned as president of Enron in 1987 and quickly climbed the ranks list, but would. Real time, except for the DJIA, which is delayed by two minutes Fast cars, '' responded... Where is Rebecca mark, the hard-charging glamour girl who planted troubled Enron energy and water projects the! Has emerged -- of a heart attack on July 5, 2006, before his sentencing remain in. M5S and the M3s -- `` the Fast cars, '' Whalley responded according., to race motorcycles in the Enron saga show their faces inside the courtroom that emerged late! Before Fastow formed his side partnerships, enlisting Kopper 's aid, and walked off with states. As men to follow their interests directly to personal homes and businesses a market prices economics from the Wikipedia Lou... 2001 and is still going strong where his father was a mess that got even messier when the resulted... Few months back I went to a strip club for a bachelor party them same! And Fewell raised and trained dressage horses on Canaan ranch, located near metropolitan Houston: Rich. Horses he bought for her is named Gucci together, Lou Pai were stars! Still a mid-sized, regional energy supplier Pai obtained both his BS and MS the... Melanie also happened to be married with two kids 30 million Aspen with.. Reasons for his second wife, Melanie Fewell Pai, was an aeronautics professor trained dressage horses their.