Aubrey McClendon, who is a part owner of NBA team, Oklahoma Thunder, and the founder and former chief executive of Chesapeake Energy, was pronounced dead after driving his vehicle into an embankment. He was 56.

McClendon had been indicted on Tuesday on conspiracy to rig bids for the purchase of oil and natural gas leases in northwest Oklahoma. He died in the single-car crash in Oklahoma City on Wednesday, police confirmed.

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Less than 24 hours earlier, the Department of Justice announced that he had been charged with conspiring to rig bids for the purchase of oil and natural gas leases in northwest Oklahoma. Police held a news conference Wednesday confirming McClendon was the victim of the crash. According to Oklahoma City Police Capt. Paco Balderrama, the vehicle was traveling at a “high rate of speed,” well over the posted limit. “He pretty much drove straight into the wall,” Balderrama said. “The information out there at the scene is that he went left of center, went through a grassy area right before colliding into the embankment. There was plenty of opportunity for him to correct and get back on the roadway and that didn’t occur.” h/t espn

Balderrama said police, who are still investigating, believe that McClendon died instantly from the crash. His 2013 Chevy Tahoe then caught fire.

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McClendon owned an estimated 20 percent of the Thunder. He was frequently seen accompanying supermodel Kate Upton to Thunder games and other NBA related events.

Aubrey McClendon crash scene

Our thoughts and prayers go out to McClendon’s family and friends at this difficult time.