Far-right conspiracy theorist and Alex Jones, owner of InfoWars on Thursday took steps to liquidate his assets in order to pay legal damages owed to victims of the 2012 Sandy Hook school massacre.
The move is necessary to cover the $1.5 billion he has been ordered to pay to victims' families and would end his ownership of InfoWars, which he founded in the late 1990s.
Jones' lawyers wrote in a court filing Thursday that there is “no reasonable prospect of a successful reorganization” of his debts stemming from the defamation lawsuits.
Jones had called the school shooting that killed 20 children and six educators a hoax and said on his show that it was staged by actors in an effort to pass more gun control laws.
Over the weekend, Jones said on his radio show that he expected Infowars to shut down within months. “There's really no way out of this,” Jones said Sunday. “I'm in the bunker here for a bit. And don't worry. I'll be back. The enemy can't help but make this attack,” he said.
The liquidation could mean Jones, who is based in Austin, Texas, would have to sell most of his assets, including his company, but could keep his home and other belongings that are exempt from bankruptcy liquidation. The profits would go to his creditors, including the Sandy Hook families.
— The Associated Press contributed to this report
