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Special Report: The lavish and leveraged life of Aubrey McClendon | Reuters

(Reuters) – In an annex at the headquarters of Chesapeake Energy Corp, a unit informally known as AKM Operations manages a top company priority: the personal business of its namesake, Chief Executive Aubrey K. McClendon.

According to internal documents reviewed by Reuters, the unit’s accountants, engineers and supervisors handled about $3 million of personal work for McClendon in 2010 alone. Among other tasks, the unit’s controller once helped coordinate the repair of a McClendon house that was damaged by hailstones.

Fourteen miles south, at Will Rogers World Airport, Chesapeake leases a fleet of planes that shuttle executives to oil and gas fields — and the McClendon family to holiday destinations. On one trip, the clan took flights to Amsterdam and Paris that cost $108,000; McClendon counted the trip as a business expense. In another case, Chesapeake logs show, nine female friends of McClendon’s wife flew to Bermuda in 2010 without any McClendons aboard. The cost: $23,000.

via Special Report: The lavish and leveraged life of Aubrey McClendon | Reuters.

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