
Bid-Rigging is Just Another “Rule” That Doesn’t Apply to Energy Exec Aubrey McClendon
Here are some of the things that Reuters has reported over the past two months about Aubrey McClendon, chief executive officer of Chesapeake Energy, the second-largest natural gas producer in the U.S.:
Mr. McClendon borrowed $1.1 billion against his personal stake in company wells, ran a private $200 million hedge fund that invested in the same commodities that Chesapeake produces, secured a personal loan from a board director on Chesapeake’s compensation committee and presumably profited as Chesapeake kicked in $36 million in a sponsorship deal with the Oklahoma City Thunder, the NBA franchise in which Mr. McClendon is part-owner. Read More