Reuters: Chesapeake Employees Did $3M Worth of Work for CEO in 2010

Chesapeake Energy Corp. Chief Executive Aubrey McClendon in 2010 and 2012 used company employees to work on personal projects at a total cost of about $6.2 million, although the CEO reimbursed all but $250,000 in each year, Reuters reported Thursday on its website, citing a review of internal records.

Other records cited by Reuters indicate McClendon has leveraged future profits in professional basketball team the Oklahoma City Thunder, in which he holds a 19% stake. Internal flight logs also reviewed show McClendon took $2.5 million worth of business flights in 2010, often with family members.

Chesapeake declined comment to Reuters as did a spokesman for McClendon.

Click on the link to read the full story.

Copyright (c) 2012 Dow Jones & Company, Inc.


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