Right-wing conspiracy theorist Alex Jones is on the verge of filing for bankruptcy as the weight of multiple lawsuits against him is causing severe financial stress, according to a report from Bloomberg.
Companies owned by far-right radio host Alex Jones are getting advice from restructuring advisers and considering options including a potential bankruptcy filing after being hit by lawsuits over Jones’s conspiracy theories, according to a person with knowledge of the matter.
A Chapter 11 filing would aim to allow Jones’s businesses, such as Infowars and Free Speech Systems, to keep operating while pausing civil litigation against them, said the person, who asked not to be identified because the discussions are private.
Just last year, Jones and his companies were found liable of defamation in a lawsuit brought by relatives of the 20 children who died in the 2012 Sandy Hook school shooting. Jones labeled the shootings fake and a hoax, suggesting they were part of a “false flag” operation that would allow the U.S. government to impose new gun control regulations. The full value of the damages that will be imposed on Jones has not yet been decided, but could well total in the tens of millions of dollars.
Attorneys for Jones have asserted that their client’s First Amendment rights are being violated and that he had an absolute right to make the comments about the Sandy Hook massacre.
However, legal experts have noted that no one has a right to spread outright lies and bogus conspiracy theories in order to get ratings and raise money. Such actions are clearly beyond the scope of the protections afforded by the Constitution.
Jones has also been accused of transferring money from his company in an effort to hide his assets. According to attorneys for the Sandy Hook families, Jones began those transfers shortly after they filed their defamation suit in 2018. He allegedly transferred $18 to an entity called PQPR, which is said to be controlled by Jones or members of his family.