Former Chesapeake Energy CEO dies in single-car accident one day after indictment

Founder and former CEO of Chesapeake Energy Aubrey McClendon, 56, died in a single-car accident on Wednesday — one day after he was indicted for conspiring to rig bids for oil. McClendon's car reportedly had "plenty of opportunity to get back on the roadway and that didn't occur," according to police who spoke with Reuters. His SUV is said to have struck a bridge and burst into flames.

McClendon was allegedly involved in the oil conspiracy between December 2007 and March 2012, while acting as Chesapeake Energy's CEO. Chesapeake Energy and another oil and gas company reportedly planned who would win bids, then give an interest in the lease to the other company, NBC News reports. The Justice Department apparently did not name the other company it believes was involved when it indicted McClendon.

"Anyone who knows me, my business record and the industry in which I have worked for 35 years, knows that I could not be guilty of violating any antitrust laws," McClendon said during his statement on Tuesday.

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Last year, McClendon agreed to pay $25 million to settle charges of antitrust, fraud, and racketeering as compensation to landowners after it was revealed Chesapeake Energy had discussed how to suppress land lease prices with a rival Canadian energy company in 2012, The New York Times reports.

McClendon, a billionaire, had wide ranging interests, owning part of the Oklahoma City Thunder NBA team as well as a $12 million antique map collection. He stepped down from Chesapeake Energy in 2013.