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McClendon was indicted Tuesday on a federal charge of conspiring to rig bids to buy oil and natural gas leases in northwest Oklahoma.
The Department of Justice said in a statement that McClendon orchestrated a scheme between two large energy companies, which are not named in the indictment, from December 2007 to March 2012. The companies would decide ahead of time who would win bids, with the winner then allocating an interest in the leases to the other company, according to the statement.
McClendon denied violating antitrust laws on Tuesday.
Last Updated Mar 2, 2016 4:12 PM EST
A day after his indictment on bid-rigging charges, Aubrey McClendon, the former chief executive of Chesapeake Energy Corp., died Wednesday morning in a car crash in Oklahoma.
An Oklahoma City police spokesman said the 56-year-old, also a part-owner of the NBA's Oklahoma City Thunder, was speeding and "drove straight into the wall" when he was killed in a single-car crash.
Capt. Paco Balderrama said McClendon crossed the center line, drove into a grassy area and crashed into a wall at about 9 a.m. Wednesday. Balderrama said there was "plenty of opportunity" for McClendon to correct himself and get back on the road, but that didn't happen.
Police are still investigating the single-vehicle crash, and said it was too early to say whether it was intentional.
originally posted by: forthelove
a reply to: charlyv
Suicide over an indictment seems rather idiotic. Rich people do not kill themselves, they get expensive lawyers and pay fines. Now if he was convicted and had to face serious jail time, maybe, but this was just a bit contrived and begs for conspiracy minded debate. It will be interesting to see how the rest of the investigation plays out. No way this is over.