Alex Jones, who believes in conspiracy theories, has proposed a new bankruptcy strategy that would compensate the families affected by the 2012 Newtown school shooting with a minimum of $55 million over the course of 10 years. This amount is significantly less than the $1.5 billion that was awarded to these families in lawsuits against Jones for claiming that the tragedy was a hoax.

The families have submitted their own plan to liquidate most of Jones’ assets, such as his media company Free Speech Systems, and distribute the funds among themselves and other creditors.

Two competing proposals were submitted to the U.S. Bankruptcy Court in Houston on Friday and will undergo scrutiny and objections for the next 60 days. Hearings in February will determine the final decision on the amount Jones must pay.

In 2018, Jones and Free Speech Systems, located in Austin, Texas, both declared bankruptcy after losing two lawsuits. The families of the victims were awarded a total of over $1.4 billion in a Connecticut case and an additional $50 million in a Texas case. A third trial is still ongoing in Texas for a similar lawsuit filed by the parents of another child who was killed in the shooting.

On December 14, 2012, which marked the 11th anniversary of a tragic incident where a gunman killed 20 young students and six teachers at Sandy Hook Elementary School in Newtown, Connecticut, new bankruptcy filings were recorded.

Some family members of those who were killed took legal action against Jones in Connecticut, accusing him of making false statements and causing emotional harm by alleging that the school shooting was fabricated and organized by actors as part of a plan to promote stricter gun laws.

During a trial lasting one month in late 2022, eight family members of victims and an FBI agent gave testimony about experiencing years of threats and harassment from individuals who deny the occurrence of the shooting. These strangers appeared at their homes and confronted them in public, while others targeted them with hurtful remarks on social media and through emails. Some even received threats of death and sexual assault.

Jones’ attorneys did not promptly reply to email correspondence on Saturday.

According to Connecticut lawyer Christopher Mattei, the proposal made by Jones does not adequately fulfill the families’ rights under bankruptcy laws.

Mattei stated on Saturday that the only viable solution for promptly distributing Jones’ assets to his victims, who have been subjected to his harassment for over ten years, is the families’ plan.

Jones has put forth a new suggestion to resolve the issue with the families by offering them a minimum of $5.5 million annually for a decade. However, this does not seem to be significantly different from the offer made by Free Speech Systems during their bankruptcy proceedings last month. Additionally, he has also proposed giving them a portion of his earnings.

The company that owns Jones’ Infowars show, Free Speech Systems, has suggested paying creditors $4 million per year, which is lower than the previous estimate of $7-10 million annually.

The organization projected a revenue of around $19.2 million for the upcoming year through the sale of dietary supplements, clothing, and other products featured on Jones’ shows. However, they also estimated that their total expenses, which includes staff salaries, would amount to $14.3 million.

In recent financial statements submitted to the bankruptcy court, Jones disclosed a total of $13 million in assets, which includes approximately $856,000 in multiple bank accounts. The judge granted Jones permission to sell off some of his assets, such as firearms, vehicles, and jewelry, in order to generate funds for his creditors.

The proposed strategy by the families involves creating a trust that would sell off most of Jones’ assets, with the exception of his main residence and any other assets protected by bankruptcy laws. The trust would be granted extensive powers, including the ability to reclaim any money or gifts that Jones has given if they were not legally permitted.

Families have expressed their frustrations regarding Jones’ personal expenses, which amounted to over $90,000 per month this year. They have also filed a separate lawsuit accusing Jones of concealing millions of dollars in an effort to safeguard his fortune. A lawyer representing Jones has dismissed these claims as absurd.

Jones is challenging the $1.5 billion in damages awarded to the families and maintains that his remarks regarding the shooting were safeguarded by freedom of speech.

Source: wral.com