Families of Sandy Hook victims, who won nearly $1.5 billion in legal judgments against Alex Jones for labeling the 2012 school shooting a hoax, have offered to settle for about $85 million over 10 years. This proposal was made in Jones’ personal bankruptcy case in Houston, where lawyers for the families suggested this as a feasible solution for resolving the bankruptcy reorganization of both Jones and his company, Free Speech Systems.
The legal filing sharply criticizes Jones for his extravagant lifestyle and financial mismanagement, including failing to preserve his holdings’ value and not producing required financial documents. The families’ lawyers have presented two options to Jones: liquidate his estate for creditor payment or pay a minimum of $8.5 million annually for ten years, plus half of any income exceeding $9 million per year.
Jones’ bankruptcy lawyer, Vickie Driver, argued that the proposed settlement is unrealistic, claiming Jones’ financials don’t support such payments. Meanwhile, Free Speech Systems has filed a new bankruptcy plan, suggesting it can pay about $4 million yearly to creditors, a reduction from earlier estimates.
Jones, who has assets totaling around $13 million, had his salary recently increased to $1.5 million annually by a court-appointed restructuring officer. However, this raise was rejected by Bankruptcy Judge Christopher Lopez, who called for a proper hearing under bankruptcy laws.
If Jones rejects the offer, Judge Lopez will decide the payment amount to the families and other creditors. Jones, who has faced lawsuits in Connecticut and Texas, is appealing the judgments, claiming his First Amendment rights and unfair trials. The Sandy Hook shooting, which Jones claimed was staged, resulted in the death of 20 children and six educators, leading to significant distress and harassment for the victims’ families from Jones’ followers.
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