Lou Lung Pai was born on June 23,1947 and is a Chinese-American businessman and former Enron executive.
13 Facts About Lou Pai
1.
2.
Lou Pai was CEO of Enron subsidiaries Enron Energy Services and Enron Xcelerator, a venture capital division.
3.
Lou Pai was not charged with any criminal wrongdoing in the Enron scandal and exercised his Fifth Amendment rights in regard to the subsequent Enron class action lawsuits.
4.
Lou Pai was born in Nanjing, China and came to the United States at the age of two.
5.
Lou Pai worked for the federal government, primarily at the US Securities and Exchange Commission, in the 1970s before joining Enron.
6.
Lou Pai joined Enron in 1987, when it was just a regional energy supplier.
7.
Lou Pai became one of CEO Jeffrey Skilling's top lieutenants, primarily tasked with detailing and implementing Skilling's vision of transforming Enron into a de facto energy commodities-trading firm.
8.
Lou Pai was CEO of the EES subsidiary from March 1997 until May 2001.
9.
Between May 18 and June 7,2001, Lou Pai sold 338,897 shares of Enron stock and exercised Enron stock options that put another 572,818 shares on the open market.
10.
Lou Pai was a founder and is a former chairman of Element Markets, a renewable-energy consulting firm.
11.
Since then, Lou Pai has emerged as a partner in Midstream Capital Partners LLC.
12.
On July 30,2008, Lou Pai agreed to resolve civil insider trading charges against him with an out-of-court settlement of $31.5 million, including $1.5 million in civil fines and $30 million in restitution, to be deposited into a fund for shareholders harmed by Enron's bankruptcy.
13.
Lou Pai continues to neither admit nor deny the Securities and Exchange Commission claims that he sold millions of shares of Enron stock based on non-public information about the company's financial problems.