Conspiracy theorist Alex Jones on Thursday requested a court to convert his personal bankruptcy filing into a Chapter 7 liquidation after facing legal pressure from the families of the Sandy Hook Elementary School massacre victims, whom he has been ordered to pay $1.5 billion in damages for spreading baseless conspiracy theories about the shooting.
InfoWars founder Alex Jones is preparing to liquidate his assets to help pay a court ordered $1.5 ... [+]
According to CNN, Jones’ lawyers wrote in a filing that the Infowars host had “no reasonable prospect for a successful reorganization” of his debts and continuing that effort would only result in additional expenses for him.
The liquidation would mean Jones would fully cede control of Infowars and its parent company Free Speech Systems.
Over the weekend Jones broke down in tears on his show as he accused the “deep state” of trying to shut down his show, without any evidence.
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Free Speech Systems has also filed for bankruptcy protection and is currently undergoing restructuring. Last week, Sandy Hook families filed an emergency motion urging a bankruptcy court to force the company into liquidation. The bankruptcy judge overseeing the case, however, gave Jones time till June 14 to continue running the business. A hearing on the matter is scheduled to take place next Friday.