CNN
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Right-wing conspiracy theorist Alex Jones decided Thursday to liquidate his personal assets, accepting demands from the families of Sandy Hook victims who owe him more than $1.5 billion in damages for his lies about the massacre. the school of 2012.
This seismic shift sets the stage for a future in which Jones no longer owns Infowars, the influential conspiracy empire he founded in the late 1990s. Over the years, Jones has not only used the media company to poisoning public discourse with vile lies and conspiracy theories, but also to enrich themselves to the tune of millions of dollars.
Before Thursday, Jones had resisted converting his personal bankruptcy to Chapter 7 liquidation. But facing mounting legal pressure, he changed course and gave in to the demands of the Sandy Hook families, who have still not received a penny from Jones since juries in Connecticut and Texas found him responsible in 2022 defamation and emotional distress. His lawyers said in a filing that there was “no reasonable prospect of the reorganization being successful” and that continuing down this path would only result in additional expenses for Jones.
The legal maneuver “ultimately means that Jones’ ownership in Free Speech Systems is going to be sold,” Avi Moshenberg, a lawyer who represents some Sandy Hook families, told CNN Thursday evening, referring to Infowars’ parent company.
“Converting the filing to Chapter 7 will expedite the completion of these bankruptcies and facilitate the liquidation of Jones’ assets, which is the same reason we decided to convert his company’s filing to Chapter 7,” Chris Mattei said. , another lawyer representing the Sandy Hook families. told CNN.
Jones has technically not controlled Infowars’ business for some time, as Free Speech Systems has also filed for bankruptcy protection. The company’s activities were therefore placed under the control of a court-appointed restructuring agent.
A hearing is scheduled for next Friday to determine the fate of the Free Speech Systems bankruptcy.
But whatever happens in this case, Thursday’s court ruling clears the way for a court-appointed trustee to liquidate Jones’ personal assets, which include his stake in Infowars.
The liquidation of Jones’ assets does not mean that Infowars will cease to exist. Several outcomes are possible. The court-appointed trustee could, for example, sell the business to another owner.
A representative for Jones did not immediately respond to a request for comment Thursday evening.
