Former Chesapeake Energy CEO indicted

Aubrey McClendon, the former CEO of Oklahoma City-based Chesapeake Energy Corp., was indicted Tuesday on a charge of conspiring to rig bids to buy oil and natural gas leases in northwest Oklahoma.

According to the Department of Justice, McClendon allegedly led a scheme between two large energy companies from December 2007 to March 2012.

The companies, who were not named in the indictment, decided ahead of time who would win bids. The other company then would receive an interest in the leases, according to the indictment.

Read more from The Associated Press.