Alex Jones began transferring $11,000 a day to an alleged shell company he owned in late 2021, a forensic economist has testified.
A jury awarded Jones $45.2 million in punitive damages for alleging the Sandy Hook shooting was a hoax.
Forensic economists testified that Jones profited from debt by making it look worse than it actually was.
Infowars host Alex Jones began moving $11,000 a day to an alleged shell company he controlled in late 2021, a forensic economist testified Friday. Liability for non-compliance In several defamation lawsuits filed by parents of children murdered at Sandy Hook Elementary School.
this week the jury was entrusted with deliberations The amount owed by Jones as damages to Neil Heslin and Scarlett Lewis.
later dramatic ordeal, a jury ordered Jones to pay more than $4 million in compensatory damages. This is a fraction of the $150 million requested by Heslin and Lewis.At trial, Jones Claimed more than $2 million would “sink” his channel Infowarsbut he was cut by a judge presiding over a libel damages hearing. A jury ultimately ordered Jones to pay $45.2 million punitive damages.
On Friday, a jury heard testimony related to Jones’ financial condition as it continues to evaluate punitive damages against Jones — aimed at deterring similar actions in the future.
Forensic economist Bernard Pettingill, who testified at the defamation damages hearing, said Jones’ net worth is unknown because he provided so little information during the lawsuit.
Forensic economists estimate Infowars’ average annual revenues at $53 million, putting Jones and his company Free Speech Systems’ net worth at $135 million to $270 million. Free Speech Systems filed for bankruptcy last week, but Pettingill says Jones owes him $53 million in another company owned by Jones, so it’s not really serious. appear to be facing serious economic problems.
“You can’t know exactly what he does for a living or how he actually makes money,” Pettingill said, but Jones “is a very successful man.” ” he added.
Pettingill also claimed that the Infowars host was pouring $11,000 a day into shell companies he controlled. Payment after late September 2021He was found guilty of default in a Texas defamation case around the same time, according to documents obtained by . HuffPost on September 30, 2021.
Jones’ attorneys disputed the claim, saying it was a real company that matured when Jones was 74.
Read the original article at insider