A PYMNTS Company

US: Former Chesapeake CEO dies day after indictment

By  |  March 2, 2016

Aubrey McClendon, a founder and former chief executive of Chesapeake Energy, died in a fiery single-car crash Wednesday, a day after he was charged with conspiring to rig bids for oil and natural gas leases.

McClendon, 56, crashed into an embankment while traveling at a “high rate of speed” in Oklahoma City just after 9 a.m. local time, said Capt. Paco Balderrama of the Oklahoma City Police Department. Flames engulfed McClendon’s vehicle “immediately,” Balderrama said. He added that police determined McClendon was not wearing a seatbelt after earlier being unable to tell.

“He pretty much drove straight into the wall,” Balderrama said.

Chesapeake said in a statement that it is “deeply saddened by the news” and its “thoughts and prayers are with the McClendon family during this difficult time.”

McClendon had denied the antitrust charges against him.

 

Full Content: CNBC

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.