WASHINGTON May 2 U.S. Senator Bill Nelson plans
to ask the Justice Department to investigate Chesapeake Energy
Corp for potential fraud and price manipulation, an aide
to the lawmaker said.
Nelson's request comes after Reuters reported on Wednesday
that Chesapeake CEO Aubrey McClendon ran a $200 million hedge
fund that traded in the same commodities Chesapeake produces. A
search of Chesapeake's filings turned up no disclosure of his
"In response to the reporting by Reuters, Senator Bill
Nelson has asked his staff to formally request that the Justice
Department's Financial Fraud Enforcement Task Force investigate
the Chesapeake Energy Corp. matter to determine whether there is
evidence of fraud, price manipulation, conflicts-of-interest, or
other illegal activities," said Ryan McCormick, a staff director
for the Senate Finance subcommittee on fiscal responsibility.