{"id":11459,"date":"2024-06-15T03:05:47","date_gmt":"2024-06-15T03:05:47","guid":{"rendered":"https:\/\/topat10.com\/?p=11459"},"modified":"2024-06-15T03:05:47","modified_gmt":"2024-06-15T03:05:47","slug":"notorious-conspiracy-theorist-alex-jones-assets-will-be-sold-to-pay-a-1-5-billion-debt-to-families-of-the-sandy-hook-massacre-victims","status":"publish","type":"post","link":"https:\/\/topat10.com\/?p=11459","title":{"rendered":"Notorious conspiracy theorist Alex Jones' assets will be sold to pay a $1.5 billion debt to families of the Sandy Hook massacre victims"},"content":{"rendered":"\n

\u00a0A federal judge on Friday ordered the liquidation of\u00a0conspiracy theorist Alex Jones<\/a>\u00a0\u2032 personal assets but dismissed his company\u2019s separate bankruptcy case, leaving the future of his Infowars media platform uncertain as he owes $1.5 billion for his false claims that the\u00a0Sandy Hook Elementary School shooting<\/a>\u00a0was a hoax.<\/p>\n

\n

Judge Christopher Lopez approved converting Jones\u2019 proposed personal bankruptcy reorganization to a liquidation, but threw out the attempted reorganization of his company, Austin, Texas-based Free Speech Systems. Many of the Sandy Hook families had asked that the company also be liquidated.<\/p>\n

If Free Speech Systems\u2019 bankruptcy reorganization had been converted to a liquidation, Jones could have lost ownership of the company, its social media accounts, the Infowars studio in Austin and all copyrights as the company\u2019s possessions were sold. Jones smiled as the judge dismissed the company\u2019s case.<\/p>\n

It wasn\u2019t immediately clear what will happen to Free Speech Systems, Infowars\u2019 parent company that Jones built into a multimillion-dollar moneymaker over the past 25 years.<\/p>\n

One scenario could be that the company and Infowars are allowed to keep operating while efforts to collect on the $1.5 billion debt are made in state courts in Texas and Connecticut, where the families won lawsuits against Jones, according to lawyers involved with the case.<\/p>\n

Another scenario is that lawyers for the Sandy Hook families go back to the bankruptcy court and ask Lopez to liquidate the company as part of Jones\u2019 personal case, because Jones owns the business, lawyers said.<\/p>\n

Lopez said his sole focus in determining whether to dismiss Free Speech Systems\u2019 case or order a liquidation was what would be best for the company and its creditors, including the Sandy Hook families. Lopez also said Free Speech Systems\u2019 case appeared to be one of the longest running of its kind in the country, and it was approaching a deadline to resolve it.<\/p>\n

\u201cI was never asked today to make a decision to shut down a show or not. That was never going to happen today one way or another,\u201d Lopez said. \u201cThis case is one of the more difficult cases I\u2019ve had. When you look at it, I think creditors are better served in pursuing their state court rights.\u201d<\/p>\n

Many of Jones\u2019 personal assets will be sold off, but his primary home in the Austin area and some other belongings are exempt from bankruptcy liquidation. He already has moved to sell his Texas ranch worth about $2.8 million, a gun collection and other assets to pay debts.<\/p>\n

In the lead-up to Friday\u2019s hearing, Jones had been telling his web viewers and radio listeners that Free Speech Systems was on the verge of being shut down because of the bankruptcy. He urged them to download videos from his online archive to preserve them and pointed them to a new website of his father\u2019s company if they want to continue buying the dietary supplements he sells on his show.<\/p>\n

\u201cThis is probably the end of Infowars here very, very soon. If not today, in the next few weeks or months,\u201d Jones told reporters before Friday\u2019s hearing. \u201cBut it\u2019s just the beginning of my fight against tyranny.\u201d<\/p>\n

Jones has about $9 million in personal assets, according to the most recent financial filings in court. Free Speech Systems, which employs 44 people, has about $6 million in cash on hand and about $1.2 million worth of inventory, according to J. Patrick Magill, the chief restructuring officer appointed by the court to run the company during the bankruptcy.<\/p>\n

Jones and Free Speech Systems\u00a0filed for bankruptcy protection<\/a>\u00a0in 2022, when relatives of many victims of the 2012 school shooting that killed 20 first graders and six educators in Newtown, Connecticut, won lawsuit judgments of\u00a0more than $1.4 billion in Connecticut<\/a>\u00a0and\u00a0$49 million in Texas<\/a>.<\/p>\n

Chris Mattei, a lawyer for the families in the Connecticut case, said liquidating Free Speech Systems would \u201cenable the Connecticut families to enforce their $1.4 billion in judgments now and into the future while also depriving Jones of the ability to inflict mass harm as he has done for some 25 years.\u201d<\/p>\n

The relatives said they were traumatized by Jones\u2019 comments and his followers\u2019 actions. They have testified about being\u00a0harassed and threatened<\/a>\u00a0by Jones\u2019 believers, some of whom confronted the grieving families in person saying the shooting never happened and their children never existed. One parent said someone threatened to dig up his dead son\u2019s grave.<\/p>\n

Jones and Free Speech Systems initially filed for bankruptcy reorganization protection that would have allowed him to run Infowars while paying the families with revenues from his show. But the two sides couldn\u2019t agree on a final plan, and Jones\u00a0recently filed for permission<\/a>\u00a0to switch his personal bankruptcy from a reorganization to a liquidation.<\/p>\n

The families in the Connecticut lawsuit, including relatives of eight dead children and adults, asked that Free Speech Systems\u2019 bankruptcy case also be converted to a liquidation. But the parents in the Texas suit \u2014 whose child, 6-year-old Jesse Lewis, died \u2014 want the company\u2019s case dismissed.<\/p>\n

Lawyers for the company filed documents indicating it supported liquidation, but attorneys for Jones\u2019 personal bankruptcy case wanted the judge to dismiss the company\u2019s case.<\/p>\n

Kyle Kimpler, an attorney for the families seeking liquidation, had told the judge that dismissing the case could lead to a \u201crace to the courthouse.\u201d It\u2019s possible one family could get everything while another gets nothing, he added.<\/p>\n

Although Jones has since acknowledged that the Sandy Hook shooting happened, he has been saying on his recent shows that Democrats and the \u201cdeep state\u201d are conspiring to shut down his companies and take away his free speech rights. He also has said the Sandy Hook families are being used as pawns in the conspiracy. The families\u2019 lawyers say that is nonsense.<\/p>\n

The families have a pending lawsuit in Texas\u00a0accusing Jones of illegally diverting and hiding millions of dollars<\/a>. Jones has denied the allegations.<\/p>\n<\/div>\n

Subscribe to the CFO Daily newsletter to keep up with the trends, issues, and executives shaping corporate finance. Sign up<\/a> for free.<\/div>\n\n","protected":false},"excerpt":{"rendered":"

\u00a0A federal judge on Friday ordered the liquidation of\u00a0conspiracy theorist Alex Jones\u00a0\u2032 personal assets but dismissed his company\u2019s separate bankruptcy case, leaving the future of his Infowars media platform uncertain as he owes $1.5 billion for his false claims that the\u00a0Sandy Hook Elementary School shooting\u00a0was a hoax. Judge Christopher Lopez approved converting Jones\u2019 proposed personal […]<\/p>\n","protected":false},"author":473,"featured_media":11460,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[123],"tags":[],"class_list":["post-11459","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"\nNotorious conspiracy theorist Alex Jones' assets will be sold to pay a $1.5 billion debt to families of the Sandy Hook massacre victims | Unlock Informed Choices with Us<\/title>\n<meta name=\"description\" content=\"The court-ordered consequence is the result of Jones' defamatory claims that the shooting was a "hoax" portrayed by actors.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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Collins, Juan Lozano, The Associated Press","author_link":"https:\/\/topat10.com\/?author=473"},"uagb_comment_info":0,"uagb_excerpt":"\u00a0A federal judge on Friday ordered the liquidation of\u00a0conspiracy theorist Alex Jones\u00a0\u2032 personal assets but dismissed his company\u2019s separate bankruptcy case, leaving the future of his Infowars media platform uncertain as he owes $1.5 billion for his false claims that the\u00a0Sandy Hook Elementary School shooting\u00a0was a hoax. 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