athos77,

Sandy Hook families holding about $1.5 billion in defamation judgments [...] a competing plan submitted by Jones that would allow him to reorganize by preserving parts of his media empire and paying the group at least $5.5 million a year over 10 years

Literally pennies on the dollar.

His house in Austin, that he bought for a couple million dollars, he sold to his wife in 2022 for the grand total of ten dollars. They're going to claw that back from him for trying to hide it. And then they're going to force him to sell it because Texas bankruptcy law only keeps your house in a city or town safe from bankruptcy seizure if it's one acre or less. And the lot his house is on is 1.089 acres - such a shame!

nothing,

Also there may be state specific differences, but the transfer of his assets to his wife only is called a “fraudulent conveyance” and is still able to be obtained to the debtors. Also it was a dick move and requires more lawyers.

CileTheSane,
@CileTheSane@lemmy.ca avatar

Sandy Hook families holding about $1.5 billion in defamation judgments […] a competing plan submitted by Jones that would allow him to reorganize by preserving parts of his media empire and paying the group at least $5.5 million a year over 10 years

What’s the difference between 1.5 billion and 5.5 million? About 1.5 billion.

frezik,

Or in this case, the difference between 1.5B and 55M.

homesnatch,

5.5M/yr over 10 years is 55M

derphurr,

Which is still 3.7% of $1500M judgment $55M offered

CustodialTeapot,

quick maths.

stringere,

I"m now trying to figure out holsters for operands to be the quickest maths in the west

pixeltree,
@pixeltree@lemmy.blahaj.zone avatar

It’s for all intents and purposes the same size difference

JustZ,

deleted_by_author

  • Loading...
  • Witchfire,
    @Witchfire@lemmy.world avatar

    I thought it was “intensive porpoises”

    HerrBeter,

    No it’s “incense and porcupines”

    TurtleJoe,
    @TurtleJoe@lemmy.world avatar

    Sandy Hook families holding about $1.5 billion in defamation judgments […] a competing plan submitted by Jones that would allow him to reorganize by preserving parts of his media empire and paying the group at least $5.5 million a year over 10 years

    Why did you omit the part where they didn’t accept that plan? Those ellipses did some heavy lifting.

    nxdefiant,

    It really is the best part, because he’s trying to weasel out of it saying “if you want money I’ve got to keep the machine running to make more” but the families holding him accountable are setting his everything on fire telling him it was never about the money, and that’s awesome. He was hoping greed would save his ass but here he is in the hands of people who want real justice - the dismantling of the very machine he used to do harm.

    butterflyattack,

    I wonder if his assets include infowars? Would be another nail in coffin of his hopes if the families gave it to the knowledge fight guys. Funny as fuck, too.

    Buddahriffic,

    Assuming no one else comes in and finances a new platform for him. I’d be surprised if it doesn’t happen.

    randomaside,
    @randomaside@lemmy.dbzer0.com avatar

    This is Great… Unfortunately this is too little too late …

    He’s already moved out every asset he owns from under his control to other sources. They’ve given this man too much time to make himself appear “Virtually” as pauper on paper. He’ll go to prison before he ever gives them a cent.

    FlyingSquid,
    @FlyingSquid@lemmy.world avatar

    Can the court do something to punish him if it looks like he’s living in luxury despite not owning any assets?

    Olhonestjim,

    Yeah, that’s not as hopeless as you think. They can easily track what he did to obviously hide his assets in the time since the judgement and still seize them from the parties who now could face charges for accepting them.

    thefartographer,

    That’s what makes auditors so damn cool yet scary. They can trace that shit.

    residentmarchant,

    Even if they can trace it, can they take it? Let’s say he puts his house in a trust and makes some family members the owner of the trust, that would no longer be his property, no?

    Jaysyn,
    Jaysyn avatar

    Even if they can trace it, can they take it?

    Yes.

    Maestro,
    Maestro avatar

    They can still seize it, and hand out fines for the attempt to hide it too!

    JJROKCZ,

    If he puts it in a Swiss bank or caiman islands then they won’t release it for seizure or even admit it’s there. Everyone will know and he would likely be jailed for hiding it but once he got out it would be there still

    thefartographer,

    This article has the best breakdown I’ve ever read in a single source, but, from what I understand as a non-expert or even expert-adjacent, it doesn’t work that way.

    If you put things in a living trust and name others as the beneficiary and then file for bankruptcy, you still own those trusts. So they take the assets.

    If you put your assets in an irrevocable trust around the time that you file for bankruptcy and the recipient gives you something in return, the courts take the something you got in return. If you get nothing in return, then the auditors say “this smells like bullshit” and then the courts go, “yup, that’s definitely a coverup,” and then they reverse the trust and give you an extra punishment. If you’d established that trust well before filing for bankruptcy, then you didn’t have the money anyway, so nothing to take. But if the person who owns the trust is using the trust to financially support you, then the court will yoink the money before you spend it or they’ll spank you after you’ve spent it.

    billiam0202,

    Forensic auditors are scary. However, given the caliber of people Alex Jones surrounds himself with, I have a sneaking suspicion it wouldn’t be particularly difficult to untangle his finances (relatively speaking).

    thefartographer,

    Like solving the incredible mystery of did my five-year-old nephew eat that chocolate chip cookie?

    NABDad,

    Accounting Nerd Heroes!

    KneeTitts,
    @KneeTitts@lemmy.world avatar

    He’ll go to prison before he ever gives them a cent

    And he wont go to prison either

    TheJims,

    He looks like he hasn’t had a bowel movement since the bush administration

    Linkerbaan,
    @Linkerbaan@lemmy.world avatar

    How does Alex Jones still have anything

    kalkulat,
    @kalkulat@lemmy.world avatar

    Dear Alex, Welcome to Waking Life !!

    OhStopYellingAtMe,
    @OhStopYellingAtMe@lemmy.world avatar

    I don’t know what’s funnier; Alex Jones’s estate being liquidated to pay back the families of his victims, or Mike Lindell being forced to pay the $5 million “prize” he offered to disprove his election fraud lies, and then was sued because he refused to pay it after he was easily disproven.

    God damn it’s a good week for honesty.

    maniclucky,

    The Truth finally got its boots on and is kicking. Love to see it.

    JustZ,

    Link?

    OhStopYellingAtMe,
    @OhStopYellingAtMe@lemmy.world avatar
    Fenrisulfir,

    There’s a vote for this? Where do we register?

    ripcord, (edited )
    @ripcord@lemmy.world avatar

    Well. Since it’s for sandy Hook families, by going back and having kids killed.i guess :(

    NateNate60,

    In bankruptcy cases, a proposal is usually put forth by the end of the process that describes a plan with respect to how the debtor’s assets will be liquidated and the funds distributed to creditors. This plan is put to a vote before the creditors and if the creditors accept the plan, then the bankruptcy court will order that the debtor’s assets be liquidated in the manner described. When that’s all done, the bankruptcy trustee will distribute the proceeds according to the plan to the creditors. Any remaining debts are cancelled.

    BorgDrone,

    Why are remaining debts cancelled? They should liquidate all his assets and then take every single cent he makes for the rest of his life.

    NateNate60,

    This is how bankruptcy works. When someone goes bankrupt then it is intended to give them a fresh start. Some debts, such as those incurred as a result of fraud, are not dischargeable.

    BorgDrone,

    But why grant him bankruptcy? Where I live, personal bankruptcy isn’t really a thing. You can’t just walk away from debt and get a fresh start as you please. There is a ‘debt sanitation’ procedure but any creditors have to agree to the procedure and you have to go through a period of at least 3 years in which any income above the social minimum will be garnished and used to pay your debts. After this period outstanding debt can be discharged but this is entirely up to the discretion of each individual creditor.

    In this case, I do not see any reason why you would agree to that. Let him pay every cent he makes for the rest of his life.

    NateNate60, (edited )

    Edit: thought this was a reply to the Trump case. Edited to apply to Jones

    Bankruptcy is not “granted”. It is a legal process and courts cannot decline to bankrupt a person. This is the law in the United States, and changing it would require an Act of Congress. Nobody has to “agree” to this. It is just as much a violation of the rule of law to unduly deprive Jones of the rights he has by law as it is to ignore the consequences of his actions prescribed by law. It doesn’t matter what your opinion is of him or his actions; these are his rights. Anyone who has a crushing amount of debt that they can’t pay off, due to no particular fault of their own other than bad financial management, can have their assets liquidated and those debts cancelled. Note that debts incurred by fraud or malicious intent, such as this large judgement, are still not eligible for cancellation in bankruptcy. The purpose of personal bankruptcy laws around the world is because it is recognised that citizens are more economically productive when they aren’t forced to pay a crushing amount of debt for the rest of their lives. It isn’t fair to them. Again, we’re looking at laws that apply to everyone, so your opinion of Jones’s case doesn’t matter. It isn’t about Jones.

    Nobody “walks away” from debt. People get their assets liquidated, their properties sold off. and in many cases their lives upended by bankruptcy. Nobody will ever want to lend money to someone bankrupt. Since Jones declards personal bankruptcy then his business and assets will be sold to pay his creditors and he’ll be left with maybe enough to live an average life working an actual job. At the same time, the law stipulates that he, like everyone else, still deserves a decent standard of living even despite his debts. This is not favouritism, this is the rule of law.

    Consider the case where a person, after getting into a serious car accident, is hospitalised for two months. When they get out, now they could owe hundreds of thousands of dollars in hospital bills, could be severely behind on their mortgage, was out of work for two months so they might also owe thousands of dollars on their credit card, and may have even lost their job in the meantime. All those things are possible in the US, so you have to understand that bankruptcy is the last resort for this person. Otherwise, interest and late fees on tens or hundreds of thousands of dollars of debt will crush them for the rest of their lives, and we (Americans) as a society have decided that we don’t want people in that position.

    not_again,

    I also believe that student loans are not dischargeable in bankruptcy.

    NateNate60,

    That’s probably some Ronald Reagan bullshit. Let me go look it up.

    Edit: It’s not. Apparently it only started in 2005.

    mPony,

    all of this, but maybe also have people constantly harassing him pushing a narrative about how none of it is actually happening, and that it never happened, and how he made everything up.

    TengoDosVacas,

    This gets me harder than any blue pill ever could dream of

    Smokeless7048,

    Good, Break him, sell his company.

    Agent641,

    Dissolve the board of directors.

    Sandy hook parents can choose what kind of acid to use.

    Bleach7297,
    @Bleach7297@lemmy.ca avatar

    Awe c’mon. He was just speeching! Isn’t speeching protected? Don’t unfree his speech, why you hate liberdom and freedity?

    neidu2,

    Can’t wait for Knowledge Fight to cover this. Last episode largely involved AJ not being present in thebstudio due to “having to deal with some bankruptcy matters”

    Cqrd,

    The episode before last*

    neidu2,

    Ah, didn’t notice my podcast player having downloaded one today already.

    AreaSIX,

    I hope the “some sodomite sent me a bucket of poop”-drop returns soon. I don’t really like the latest drops for new technocrats.

    neidu2,

    I for one like the “some places in Asia, where you get off the plane over there, folks, they karate chop you”

    RememberTheApollo_,

    Do it.

    Tired of seeing these wingnuts get away with murder or just refuse to comply with court orders.

    eestileib,

    Unfortunately I think we have a ton more of that still to see

    EdibleFriend,
    @EdibleFriend@lemmy.world avatar

    en.wikipedia.org/wiki/Guillotine

    oops how did that link get there

    TedZanzibar,

    “I am not good with computer”

    rmuk,

    Pushing buttons not for you? That’s fine. How do you feel about pulling levers?

    EdibleFriend,
    @EdibleFriend@lemmy.world avatar

    Order corn

    reagansrottencorpse,

    We should do this more. Liquidate bad wealthy people’s assets and distribute it to those they have harmed.

    Granted that hasn’t happened here yet, but I hope it does.

    Jode,

    The knowledge fight guys are going to need a new subject in a few years 🤔

    billiam0202,

    A few months of them dunking on just how lame Owen Shroyer and Harrison Smith are would be glorious.

    ashok36,

    It’d be tough. They’d need to find another show that broadcasts as regularly as Jones does. They have made moves recently that seem to indicate they know Jones is done for and they’re transitioning to monitoring various right wing shit heads instead as occasion arises.

    agent_flounder,
    @agent_flounder@lemmy.world avatar

    So I hear organs can usually fetch some good money… Just a random, totally unrelated thought I had.

    ZeroCool, (edited )

    Alex Jones is a raging alcoholic. Nobody’s interested in those vodka marinaded organs. You can pick a random episode of the Knowledge Fight podcast and there’s a damn near 50/50 chance the episode of Info Wars they’re going to be tearing apart will culminate with a drunken, crying, screaming, Alex Jones temper tantrum.

    neidu2, (edited )

    For the past year or so there are some pretty telling signs of what is most likely cocaine added to the mix.

    yuriy,

    which is actively counteracting the damage done by alcoholism, the globalists WISH they had his super powered organs

    billiam0202,

    Not to mention all the SUPER MAIL VITALITY BRAIN FARCE X pills filled with god knows what.

    billiam0202,

    You say “vodka marinaded,” I say “well-preserved!”

    Also what’s your bright spot today, buddy?

    NatakuNox,
    @NatakuNox@lemmy.world avatar

    Hey even if we can only get ¢10 on the dollar for his organs it’s still worth it

  • All
  • Subscribed
  • Moderated
  • Favorites
  • news@lemmy.world
  • DreamBathrooms
  • magazineikmin
  • cisconetworking
  • InstantRegret
  • tacticalgear
  • modclub
  • Youngstown
  • slotface
  • khanakhh
  • rosin
  • mdbf
  • kavyap
  • GTA5RPClips
  • everett
  • provamag4
  • thenastyranch
  • normalnudes
  • tester
  • Durango
  • osvaldo12
  • Leos
  • anitta
  • ethstaker
  • provamag3
  • cubers
  • JUstTest
  • lostlight
  • relationshipadvice
  • All magazines