In an apparent ploy to end civil litigation filed by family members of the Sandy Hook school shooting victims, Alex Jones' disinformation site Infowars declared bankruptcy, but not before Jones paid himself $18 million and another $54 million to "shell companies owned by insiders like his parents, his children, and himself," according to the plaintiffs.
From Above The Law:
Last week, the Texas plaintiffs filed a lawsuit under the Texas Uniform Fraudulent Transfer Act (TUFTA) alleging that Jones has already looted his company by siphoning off $72 million, with $18 million going directly into his own pocket and another $54 million paid to "shell companies owned by insiders like his parents, his children, and himself."
So the bankruptcy filings, originally flagged by Fortune should probably be interpreted less as a statement of the podcaster's financial health and more as a litigation strategy. Indeed, all but one of the 20 largest listed creditors for the InfoW LLC, IWHealth LLC, and Prison Planet TV LLC is a Sandy Hook plaintiff, and the application to appoint accountant Marc Schwartz as chief restructuring officer makes clear that the bankruptcy is primarily a vehicle to settle the defamation suits before they get to a jury.
