Posted on 03/02/2016 11:58:00 AM PST by DCBryan1
Aubrey McClendon, a founder and former chief executive of Chesapeake Energy, died in a car crash Wednesday at age 56.
This is breaking news. Please check back for updates.
McClendon was indicted Tuesday and charged with conspiring to rig bids for oil and natural gas leases while leading Chesapeake Energy.
The alleged conspiracy took place between December 2007 and March 2012, the indictment said. The companies are accused of deciding who would win the bids, then giving an interest in the leases to the other company. The Justice Department did not say which other company it believes was involved in the alleged scheme.
"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 in a statement Tuesday.
(Excerpt) Read more at cnbc.com ...
Another one of those self-driving cars like the dead reporter?
This guy was in way over his head and seemed to play fast and loose in the oil business and with other people’s money. He probably will end up having bankrupted Cheasapeake with his massive debt and drilling spree. He was unceremoniously fired, and then sued, by his old company.
Now his new firm, American Energy Partners, with his sudden death and resulting shake-out of revelations, will probably end up bankrupting that company and its investors as well.
That ubuttment just jumped out at him.
Well, no on will be making a deal with him to find out who else was in on the bid rigging.
CHK shares are up 22% today. So it was good news for them.
Sad news.
He was a fundamental force in changing the energy industry, worldwide, and therefore the geopolitics that supported it.
If Iran moves to take over Iraq, we yawn. We could not ignore this 10 years ago.
This is only possible because of our domestic oil and gas industry stepping up.
I’m long CHK.
Friend of Bill and Hillary? /s
A good guy, one of the ones who made things happen. Hounded by a government straight of an Ayn Rand story. Our government is depraved. They indict and imprison men like him just for political points.
They couldn’t care less that this is a real human being, with a family, who harmed nobody.
He was facing ten years. In the old USSR a “tenner” was the worst thing they could do to you short of killing you.
Our government throws around tenners like candy.
Prayers for this guy.
Was this the guy who spend piles of Chesapeake’s money on personal fun and got fired for it?
That’s not fishy or anything. (S)
Suicide or MURDER? The indictment opened legal doors to a huge government “fishing expedition” of information related to business partners, practices, and other things that someone or some group may wish to keep hidden.
“Accident”, since suicide would not pay his family the insurance money.
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