Exclusive: Chesapeake CEO took out $1.1 billion in unreported loans

Aubrey McClendon will no longer be running Chesapeake Energy Corpcome April 1. But he is likely to remain deeply entangled with the company he founded 24 years ago.

By Paulo Santos:Wednesday's news describes how Aubrey McClendon, CEO of Chesapeake Energy (CHK), took on $1.1 billion in loans to fund an unusual perk that allows him to invest up to 2.5% on each well Chesapeake drills.

By Brad Prigmore:Unless you're the Geico guy in the commercial living under a rock, you have probably heard the startling Chesapeake Energy (CHK) news about CEO Aubrey McClendon getting caught with his hand in the cookie jar yet again.To add insult to injury, the disclosure comes just as Chesapeake is trying to weather a multibillion-dollar liquidity crisis amid a painful plunge in the price of natural gas.

Chesapeake Energy Corp. Chief Executive Officer Aubrey McClendon will resign from the company he built into the second-largest U.S. natural gas producer after scrutiny of his personal finances and a corporate cash crunch erased as much as 43% of its market value last year.

By Vince Martin:Chesapeake Energy (CHK) CEO Aubrey McClendon is facing criticism after a Reuters report revealed that he borrowed $1.1 billion against his 2.5% stake in the company's wells, a perk known as the Founder Well Participation Program (FWPP).