expense account until Chairman Ken Lay later prohibited it. 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. At the time, the price averaged $53.78 per share. 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. Pai's Colorado ranchland included the 14,047-foot mountain Culebra Peak. His neighbors reportedly referred to the ranch as "Mount Pai". Post-Enron Pai was a founder and is a former chairman of Element Markets, a renewable-energy consulting firm. Through Element, Pai has invested in pollution emissions credits. Since then, Pai has emerged as a partner in Midstream Capital Partners LLC. On July 30, 2008, 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. He 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. It is one of the largest settlements in the history of the SEC's enforcement program dealing with an individual for alleged insider trading. As part of the settlement, Pai was also barred from serving as an officer or director of a public company for five years. Personal life 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. Upon learning of the affair, Pai's then-wife of over 20 years, Lanna, with whom he has two biological children, filed for divorce. 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. After the divorce, Pai and Fewell married. Pai and Fewell together operated Canaan Ranch, located near metropolitan Houston, where they raised and trained dressage horses. 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