His then-wife of over 20 years, Lanna, with whom he has two biological children, filed for divorce upon learning of the affair. This includes his assets, money, and income. It was a mess that got even messier when the affair resulted in a pregnancy. And everybody had their thing: Fastow liked art. . 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]. Cable News Network. Upon learning of the affair, Pai's then-wife of over 20 years, Lanna, with whom he has two biological children, filed for divorce. In the US, shealso generously gave to the sport of dressage and sponsors dressage shows, which is also her source of income. According to the wiki, she marriedLou Lung Paiin 2001 and is still going strong. No more high paying job, his stripper girlfriend was pregnant, his marriage was destroyed and divorce proceedings were underway. Evil chink. 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. Skilling lived in a simple, square brick house with his wife and three children. Where is Rebecca Mark, the hard-charging glamour girl who planted troubled Enron energy and water projects around the globe? Pai departed Enron months before it filed for bankruptcy; the reason for his departure is unknown, but he sold out his remaining stock. Photographer: F. CARTER SMITH/Bloomberg(BLOOMBERG NEWS/F. 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? It's for sale now, one of so many gems coated in the ashes of Enron's collapse. Her name has hardly been uttered during the trial. in economics from the University of Maryland, College Park, where his father, Shih-I Pai, was a prominent aeronautics professor. 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. Some experts consider it a pop masterpiece. More recently, Pai and his family have moved to Wellington, Florida. By November 28, 2001, Enron's share price dropped all the way down to $1. Create a free website or blog at WordPress.com. 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. Lou wasn't exactly fired from Enron, but he also wasn't exactly encouraged to stay on as CEO of EES. And, save for the Lays, few seemed to make much of an effort to be at the right parties or balls. . Meanwhile, Lou married his stripper girlfriend, now known as Melanie Miller Pai. Davis Stumps Across CalfiorniaGray Davis speaks at an anti-recall rally in San Jose, California, in 2003. Billing reconciliation. Fewell married.Pai and his current wife operated Canaan Ranch, located near . Photographer: F. Carter Smith/Bloomberg, Gray Davis speaks at an anti-recall rally in San Jose, California, in 2003. It was perfect for Skilling, a man who lives to be on the edge. Lay loved real estate ventures. Lou Pai's Wife & Children. 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. Received payments from . 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. Press question mark to learn the rest of the keyboard shortcuts. The top 5 percent could expect to be invited to Mexico or Aspen with Skilling. It is one of the largest settlements in the history of the SEC's enforcement program dealing with an individual for alleged insider trading. News, 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. This time, they booked a trip with the Chris Haines Motorcycle Adventure Co., a Mexico-based tour group. He wrote a book about that probe, Where Law Ends, andnowteaches at New York University Law School. 5005 South Tamiami Trail Sarsasota FL 34231. Mark was also lucky. 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. "They wanted the work to be contemporary and adventurous -- the work was supposed to reflect Enron's culture," Walker says. Upon learning of the affair, Pai's then-wife of over 20 years Lanna, with whom he has two children, filed for divorce. 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. To stabilize the situation, he authorized the state to buy expensive power contracts that were paid off by customers over 20 years. But before shit hit the fan for both EES and Enron, Lou Pai was one of the most important and highest paid people at the company. Reportedly, her estimated net worth is around $1 million. Pai came to the United States aged two years. And a horse so famous it was invited to perform at Linda McCartney's funeral. 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. 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. Lips on the walls. 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. 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? During his tenure as CEO, Lou earned approximately $100 million in salary alone. 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. 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). Another time, it was off-road racing in Land Cruisers in the Australian outback. (Creative Commons and flickr.com/people/eflon//Eflon). He's been on the defense witness list, but he would almost certainly take the Fifth if called. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Further, she completed her graduation in management and finance from the University of Tulsa. Lovely Mimi New Boyfriend Bio, Wiki, Age, Arrest, Husband, Divorce, Kids Net Worth. 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. Lou Pai is a Chinese-American businessman and mathematical genius who has a net worth of $200 million. 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. 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. And, from the looks of life in Houston these days, it still is. Lou Pai: The Only Guy Whos Ever Been Lucky to Get Divorced, the only guy whos ever been lucky to get divorced.. So the group bought a Bridget Riley and a Bill Viola projection piece, the Oldenburg and an important Mark Puryear titled "Bowers" that went for nearly $700,000 at auction. 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. [, On July 30, 2008, Pai agreed to resolve the civil. Reddit and its partners use cookies and similar technologies to provide you with a better experience. 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. Factset: FactSet Research Systems Inc. 2018. 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. Pai left Enron with over $280 million after selling a substantial amount of his shares. 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. By pleading the 5th Pai has kept himself from testifying in the trials of other Enron executives, and has avoided being charged himself. The traders idolized Whalley. 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. ----- . As one of the anchors, they purchased a piece by famed minimalist Donald Judd. Mar 28, 2009. So I guess technically he voluntary gave up the $30 million, but he did it to avoid further suits or prosecution. 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. It wasn't enough for Lay to have one house in Aspen, he had to have four. Davis, a Democrat, blamed Enron for gaming Californias power market and contributing to the blackouts that roiled the state. 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Carter Smith/Bloomberg, Andrew Fastow is escorted by U.S. As the company grew and took on ever riskier propositions, the strain showed inside the building. . Formed in 1985, Enron rose to prominence throughout the 1990sas an energy supplier and trading powerhouse with far-flung holdings including natural gas pipelines and utilities. 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. Custom-designed vacations packaged by a company that does trips for the likes of Lyle Lovett and "Survivor II's" Keith Famie. She spun off the companys water business, Azurix, in a 1999 IPO, but lost a power struggle to Skilling and resigned from Enron in 2000. Skilling put Pai in charge of multiple Enron subsidiaries during his Enron career. Since then, Pai has emerged as a partner in Midstream Capital Partners LLC. Create an account to follow your favorite communities and start taking part in conversations. View Melanie Pai's profile on LinkedIn, the world's largest professional community. Pai was later cast in news reports as a symbol of Enrons excess, with an alleged fondness for corporate jets and strip clubs. "Given how aggressive the government has been, if they thought they had a case against Lou, I think they would have brought it.". 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. As long as they stay in the shadows they are. So he then married Melanieand she quit her job as an exotic dancer. It's critical to acknowledge and appreciate the accomplishments of womenand to provide them the same opportunity as men to follow their interests. Why did this happen? Or someone else is a more compelling witness. As the attorney for one former Enron executive put it: "He ain't getting within a thousand miles of the courtroom.". "If I met with investors, if I came to Boston, I'd have to lie too much," Whalley responded, according to Fastow. Morningstar, Inc. All Rights Reserved. After the divorce from Lanna, Lou, and Melanie Fewell married. Your email address will not be published. Ken Rice -- another top Enron executive -- adored Ferraris. Staff researcher Lynn Davis contributed to this story. He also bought a ranch in suburban Houston for his second wife, Melanie Fewell Pai, and set her up with a breeding and training operation for top-quality dressage horses. Copyright 2023 DotComStories | Powered by Astra WordPress Theme, https://dotcomstories.com/author/divesh-solanki/. What Enron was, though, was a good corporate citizen, one that spread its money throughout the city. . But he also didn't testify, after threatening to plead the Fifth. 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. 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. Lou is 74 years old as of 2021, he was born in1947, in Nanjing, China. "Don't worry about it," Whalley responded, according to Fastow's testimony. [2] 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. He also received enormous grants of valuable Enron stock. 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. And it wasn't enough to have one gleaming tower in downtown Houston. 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. Lou Pai's wife of 20 years, Lanna Pai, whom he had two children with, filed for divorce after she found out about the affair. He also bought a ranch in suburban Houston for his second wife, Melanie Fewell Pai, and . 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 . Melanie Fewell, Lou Pais wife and a former stripper, is well-known for having wed the former Enron executive Lou Pai. 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