Right-wing conspiracy theorist Alex Jones has agreed to liquidate his personal assets in response to demands from the families of Sandy Hook victims to whom he owes more than $1.5 billion in damages for spreading lies about the 2012 school massacre. This decision marks a significant step towards a future in which Jones will no longer own Infowars, the media company he founded in the late 1990s. Jones has used Infowars to spread conspiracy theories and enrich himself, but he has now decided to liquidate his assets following mounting legal pressure from the Sandy Hook families.
Prior to this decision, Jones had resisted converting his personal bankruptcy into a Chapter 7 liquidation. However, his lawyers have stated that there is “no reasonable prospect for a successful reorganization” and continuing down this path would only lead to additional expenses for Jones. The move to liquidate his assets will hasten the end of his bankruptcies and facilitate the liquidation of his personal assets, including his stake in Infowars. This decision has been welcomed by the legal representatives of the Sandy Hook families, who have not yet received any compensation from Jones despite court rulings in their favor.
Jones has not been in control of Infowars for some time, as Free Speech Systems, the parent company of Infowars, has also filed for bankruptcy protection. The company’s business has been under the supervision of a court-appointed restructuring officer. A hearing is scheduled for next Friday to determine the fate of Free Speech Systems’ bankruptcy, but Thursday’s legal move sets the stage for a court-appointed trustee to liquidate Jones’ personal assets. While the liquidation of his assets does not mean the end of Infowars, it could result in the sale of the business to another owner.
The decision to liquidate his assets comes after Jones was found liable for defamation and emotional distress by juries in Connecticut and Texas. The Sandy Hook families have been seeking justice for the harm caused by Jones’ lies and conspiracy theories, and this move towards liquidation of his assets is seen as a step towards accountability. While Infowars may continue to exist under new ownership, Jones will no longer have control over the company. The legal representatives of the Sandy Hook families have expressed hope that this decision will lead to the families finally receiving the compensation they are owed.
Jones’ decision to liquidate his personal assets marks a significant shift in his legal battles with the Sandy Hook families. The families have been fighting for justice for years and this move towards liquidation is a step towards holding Jones accountable for the harm caused by his lies. While the fate of Infowars remains uncertain, the decision to liquidate Jones’ assets will have far-reaching implications for his media empire. The legal proceedings in the coming weeks will determine the future of Infowars and the compensation owed to the Sandy Hook families.
