He gave up another juicy holding last year, the filings show. Arcadia Resources, McClendon's oldest means of financing his Chesapeake well interests, transferred its assets to Dorchester Resources, controlled by Bennett, his close friend. Bennett did not return a request for comment.
Another setback hit McClendon the morning that he died - the announcement by EMG that it would cease new investments. This was a major blow: EMG had invested $3 billion with McClendon. Now the $17 billion fund was done with him.
In a letter sent hours before the crash, EMG informed its investors that, as of Feb. 26, McClendon was no longer the CEO or a board member of any EMG portfolio company. The letter also pointed to concerns about McClendon's indictment.
"These are serious allegations that have been made against McClendon (and could have equally serious implications across the industry) and EMG takes this matter very seriously," managing partner John Raymond wrote.
An EMG spokeswoman did not respond to requests for comment.
It's unclear whether McClendon had been informed of the letter's content before it went out. But the end of McClendon's collaboration with EMG removed one of his main sources of capital to find and develop land.
McClendon faced at least one more looming debt.
According to three people familiar with the matter, he had tentatively agreed to settle a claim by Chesapeake alleging that he took confidential oil-and-gas-related data with him when he left the company and used the information when he started AEP. AEP has called the claim "meritless." McClendon too had denied the accusation, and the case was about to be resolved in arbitration. The sources said McClendon, as founder and principal of AEP, had recently agreed to pay Chesapeake more than $3 million.
"We May Never Know"
When the Justice Department announced the indictment March 1, it also issued a statement strongly critical of McClendon.