The families of Sandy Hook school shooting victims voted overwhelmingly in favor of a plan to wrap up Alex Jones’ bankruptcy proceedings by liquidating the right wing talk show host’s assets.
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!
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.
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.
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.
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.
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.
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.
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.
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?
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
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.
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).
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.
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.
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.
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.
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.
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.
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”
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.
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.
Add comment