Chesapeake Energy Founder Aubrey McClendon died on a fatal single-car crash on Wednesday, a day after he was indicted for conspiracy.  The former Chesapeake Energy CEO was charged for allegedly conspiring to rig bids for oil and gas leases. He was 56.

Oklahoma City Police Department officials said that McClendon collided into an embankment while traveling at a high rate of speed.  Investigations revealed that the previous CEO's car was instantly enveloped with fire that caused his death. It was also revealed that McClendon was not wearing a seatbelt when the accident took place, CNBC reports. It is unclear yet what caused the crash and what exactly the time it occurred.  McClendon was driving his 2013 Chevy Tahoe about 8 miles from American Energy Partners, the company he founded and where he was the chief executive and chairman.

"Aubrey's tremendous leadership, vision and passion for the energy industry had an impact on the community, the country and the world. We are tremendously proud of his legacy," American Energy Partners said in a statement.

McClendon was indicted on orchestrating a conspiracy not to compete for oil and gas leases in northwest Oklahoma, according to Yahoo. The indictment of McClendon followed a high profile antitrust investigation that took place for almost four years.  McClendon co-founded Chesapeake, which is the second-biggest natural gas producer in the U.S. He also founded American Energy Partners. He was also a part-owner of Oklahoma City Thunder, the National Basketball Association franchise.

"The charge that has been filed against me today is wrong and unprecedented. ... All my life I have worked to create jobs in Oklahoma, grow its economy, and to provide abundant and affordable energy to all Americans. I am proud of my track record in this industry, and I will fight to prove my innocence and to clear my name," McClendon said in a statement after he was indicted according to Associated Press via NPR.

McClendon dismissed the allegations thrown on him when he was indicted. Despite the charges, many have shown their sympathy towards the former CEO of Chesapeake Energy. People praised him for his brilliant ideas particularly for the drilling method known as fracking. McClendon was once called as "America's wildest wildcatter" by FORBES.