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.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
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.
-
What to know before turning to AI for financial advicethe explainer It can help you crunch the numbers — but it might also pocket your data
-
Book reviews: 'The Headache: The Science of a Most Confounding Affliction—and a Search for Relief' and 'Tonight in Jungleland: The Making of Born to Run'Feature The search for a headache cure and revisiting Springsteen's 'Born to Run' album on its 50th anniversary
-
Keith McNally' 6 favorite books that have ambitious charactersFeature The London-born restaurateur recommends works by Leo Tolstoy, John le Carré, and more
-
Nobody seems surprised Wagner's Prigozhin died under suspicious circumstancesSpeed Read
-
Western mountain climbers allegedly left Pakistani porter to die on K2Speed Read
-
'Circular saw blades' divide controversial Rio Grande buoys installed by Texas governorSpeed Read
-
Los Angeles city workers stage 1-day walkout over labor conditionsSpeed Read
-
Mega Millions jackpot climbs to an estimated $1.55 billionSpeed Read
-
Bangladesh dealing with worst dengue fever outbreak on recordSpeed Read
-
Glacial outburst flooding in Juneau destroys homesSpeed Read
-
Scotland seeking 'monster hunters' to search for fabled Loch Ness creatureSpeed Read
