Where is Lou Pai today?
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. More recently, Pai and his family have moved to Wellington, Florida.
How did Lou Pai get away?
When you put it all together, Lou Pai is one of the luckiest people on the planet. By getting his stripper girlfriend pregnant, he was forced to sell off every single share of Enron he ever owned. He walked away just below the peak of Enron’s stock price with an estimated $280 million dollars.
What happened to Enron employees?
Most of the 5,000 people turned out of work in the Enron collapse found new jobs and managed to land on their feet. But many had put their retirement money into Enron stock, and they’re now at the back of a long line of creditors.
What happened to Ken Lay and Jeff Skilling?
Skilling and Lay were tried together and convicted in May 2006 on fraud and conspiracy charges. Lay died of heart disease two months later while awaiting a prison sentence that could have lasted 45 years. Skilling was fined $45 million and is currently serving a 24-year sentence in federal prison.
Is Lou Pai in jail?
He also never served a moment of jail time. After being forced out of the company in 2001, Pai proceeded to sell off his entire stake of Enron stock. He dumped the shares essentially at the all time peak of Enron’s market value. This resulted in a $250 million windfall for Pai.
Who was jailed for Enron?
Jeffrey Skilling
Former Enron CEO Jeffrey Skilling is looking at ways to return to the energy business, according to two sources familiar with his activities. Among the ventures he is considering is an idea he came up with in 2015 — and put to paper — while serving a federal prison sentence for his role in Enron’s 2001 collapse.
How did Lou Pai make so much money?
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. Lou Pai was born in Nanjing, China in 1946 and moved to the United States with his family at the age of two.
What did Lou Pai get out of the Enron settlement?
As part of the settlement, Pai was also barred from serving as an officer or director of a public company for five years. 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.
How big was Lou Pai’s ranch in Colorado?
Pai was the second-largest land owner in Colorado after he purchased the 77,500-acre (314 km2) Taylor Ranch for US$23 million in 1999, though he sold the property in June 2004 for US$60 million.