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. as well as M.S. Lou is 74 years old as of 2021, he was born in1947, in Nanjing, China. Copyright 2021 - All right reserved People With Fame. On December 2, 2001, Enron filed for bankruptcy. And Wickman -- like so many Houstonians -- just can't understand what happened in his town. And more importantly, how much did his wife get? 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? She is a believer in Christianity religion. Glisan said Whalley knew it was wrong to be using reserves as an earnings-management cookie jar. 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. She has a son namedKyle and a daughter named Natalie Pai. But he also didn't testify, after threatening to plead the Fifth. Upon learning of the affair, Pai's then-wife of over 20 years, Lanna, with whom he has two biological children, filed for divorce. A former Enron employee referred to Pai as the invisible CEO when he was interviewed in the 2005 documentary film Enron: The Smartest Guys in the Room. So I guess technically he voluntary gave up the $30 million, but he did it to avoid further suits or prosecution. Pai and Fewell raised and trained dressage horses on Canaan Ranch, located near metropolitan Houston. 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. 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. . 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 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. 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. 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 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. Melanie Fewell, Lou Pai's wife and a former stripper, is well-known for having wed the former Enron executive Lou Pai. Melanie standstall with a height of 5 feet 7 inches. (The government has ruthlessly narrowed its case, never calling two witnesses when one might do.). They lived a life of perks and privilege, and they knew it. The energy-trading giants downfall, triggered by revelations of shady accounting practices, still reverberate throughout the business and political world today. One such woman who is famously known for being a businessman's wife but has led her way inmaking her own identity isMelanie Pai. Pais resignation from Enron and his reasons for doing so remain shrouded in mystery. He probably thanks God every night for giving him that "peculiar fascination" with strippers! 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. The objective is to create an environment that supports women in making the best decisions for them, free from prejudice or societal expectations. Photographer: F. Carter Smith/Bloomberg, Gray Davis speaks at an anti-recall rally in San Jose, California, in 2003. Yet it is Mark, along with Fastow, whom Skilling once blamed for Enron's destruction. All Rights Reserved.Terms Entertainment, Press J to jump to the feed. Your email address will not be published. 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. 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. [, On July 30, 2008, Pai agreed to resolve the civil. Cable News Network. Your email address will not be published. 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. 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. Melanie has 1 job listed on their profile. One of the horses he bought for her is named Gucci. This includes his assets, money, and income. "They wanted the work to be contemporary and adventurous -- the work was supposed to reflect Enron's culture," Walker says. Lou Pai was a recluse. Lou Pai was a former executive at Enron, a trading firm for energy that rose quickly and fell much faster. Think strip clubs and Ferraris. Skilling was hired to lead that effortand eventually became CEO of Enron, briefly, before quitting in July 2001 just months after taking the role. Although Melanie Fewells actions after marrying Pai are not well known, it is said that she resigned from her position as an exotic dancer. 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 has a sister name Debby Kluepfel. After the divorce, Pai and Fewell married. Regardless of whether they choose to prioritize their personal or professional lives, women should be urged and assisted in pursuing their goals and aspirations. "If I met with investors, if I came to Boston, I'd have to lie too much," Whalley responded, according to Fastow. 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. 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. Copyright 2023 DotComStories | Powered by Astra WordPress Theme, https://dotcomstories.com/author/divesh-solanki/. 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. They weren't fourth-generation Houstonians -- which is basically what it takes to get into the Bayou Club. Photographer: F. Carter Smith/Bloomberg(Bloomberg News/F. From Anime to Trending Netflix Series and Celebrity News, he covers every detail and always find the right sources for his research. It was a mess that got even messier when the affair resulted in a pregnancy. . The pair is now raising thoroughbreds in Houston and is regarded as a member of the local neighbourhood. Skilling put Pai in charge of multiple Enron subsidiaries during his Enron career. So where's Whalley? 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. 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. Enron Complex in Houston Texas. Think of it like this: Right now the amount you pay for gas or electricity is a fairly fixed rate that is set by a utility company that is probably a pseudo-government entity. If ever there were a juicy government target, Lou Lung Pai would seem to be it. 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. (Lockyer later apologized for the remarks.) As one of the anchors, they purchased a piece by famed minimalist Donald Judd. Background. In a move that the SEC questioned as actually a result of insider information, Pai netted himself somewhere around 300 million dollars. Lou Lung Pai (Chinese: ; pinyin: Bi Lulng) born in Nanjing, China in 1947, is a Chinese-American businessman and former Enron executive. She also was granted the right to the couple's Houston mansion, a Houston condo and a $3 million house in Hawaii. In the year 1987, he joined Enron when it was just a regional energy supplier. 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. Enron had to have two. We will update this section once this information is available. Pai obtained both his BS and MS from the University of Maryland in College Park, where his father was a math professor. This was before they all began upgrading their lifestyles. Pai left Enron abruptly, and he has since vanished into oblivion. 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. Of course, most Enron employees weren't the ones going on the ski weekends to Beaver Creek, Colo., or flying in one of the company's corporate jets -- there was a fleet of them stored in a private hangar at Bush Intercontinental Airport. "That's what any lawyer would advise. 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. Two decades later, the companys name is still invoked in shorthand by policymakers and average Americans alike when talking about corporate greed and fraud. Lou worked for the federal government in the 1970s before joining Enron. She sold more than $80 million worth of Enron stock near its high. Secret Masonic-like super hero ninjas who will slip into his evil world and finish hi moogooguypan. The best of Latin America and the Hispanic world. "And it was fun because it took about two minutes to do a deal.". The gas bank, as it became known, reduced Enrons own exposure to fluctuating prices and spurred its growth through the 1990s. "Don't worry about it," Whalley responded, according to Fastow's testimony. It's what they were put on this planet to do. All rights reserved. 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. Here, young Ivy Leaguers believed they could reinvent not just the energy business but the American business model, the whole U.S. economy. Ken Lay sold off $90 million worth of stock during this period. It's for sale now, one of so many gems coated in the ashes of Enron's collapse. Very reserved. 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. ----- . Where is Rebecca Mark, the hard-charging glamour girl who planted troubled Enron energy and water projects around the globe? See the complete profile on LinkedIn and discover Melanie's . Who Is Lou Pai's Wife, Melanie Fewell? Lou was born in 1947, in Nanjing, China, and came to the United States at the age of 2 years. 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. When it filed for bankruptcy on Dec. 2, 2001, it was at the time the largest-ever Chapter 11 case in history, costingshareholders billions and leaving thousands of people pensionless and out of work. Pai worked for the federal government in the 1970s before joining Enron. Heres a look at some of the prominent players in the scandalboth fallen executives and those who investigated themand where they are now: Kenneth Lay, founder, former chairman and CEO, No title providedKenneth Lay outside the Bob Casey Federal Courthouse in Houston, Texas, in 2006. By November 28, 2001, Enron's share price dropped all the way down to $1. The employees and retirees lost a great deal of their pension and benefits. Photographer: F. Carter Smith/Bloomberg, Andrew Fastow is escorted by U.S. And eventually, going to strip clubs turned into a full on affair with a stripper named Melanie Fewell. FEEDBACK bmclean@fortunemail.com and pelkind@fortunemail.com. 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. Mark, along with Fastow, whom Skilling once blamed for Enron 's collapse but led! 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