An investigation by Reuters has revealed the deep financial problems faced by former Chesapeake Energy CEO Aubrey McClendon when he was killed in the crash of his SUV earlier in March.
The news wire service says the night before his death, McClendon missed a private dinner party featuring Vicente Fox, the former president of Mexico. The party had been scheduled but hours earlier, McClendon had been indicted by a federal grand jury on bid-rigging charges.
Looking into records and documents, Reuters found that McClendon no longer controlled his stake in thousands of company oil and gas wells. He was transferring them to a company controlled by Clayton Bennett, of Dorchester Capital and the man often seen sitting next to McClendon as they watched their team, the Oklahoma City Thunder play at home games in the arena named after the company founded by McClendon…..Chesapeake Arena. In addition, McClendon had reportedly reached an undisclosed agreement to pay $3 million to Chesapeake to settle a legal fight over allegations he stole confidential information when he was booted from Chesapeake. He also was concerned because his largest investor, Energy and Minerals Group of Houston had just informed him it was halting all new business with him.
But the Reuters investigation found out much more about the investigation that led to McClendon’s indictment.
Read full report.
Reuters report on Aubrey McClendon
