A forensic economist testified that Alex Jones began funneling $11,000 per day into an alleged shell company around the time he was found liable by default in defamation suits

Alex Jones is being subpoenaed to testify in Travis County Courthouse during his libel trial in Austin, USA, on August 2, 2022. Briana Sanchez/Pool via Reuters
Alex Jones began transferring $11,000 a day to an alleged shell company he owns in late 2021, a forensic economist has testified.
A jury ordered Jones to pay $45.2 million in punitive damages for claiming the Sandy Hook shooting was a hoax.
The forensic economist testified that Jones profited from his debt by making it appear as if it were worse than it really is.
ADVERTISEMENT
Infowars host Alex Jones began wiring $11,000 a day to an alleged shell company he controls in late 2021, a forensic economist testified on Friday, around the time he was involved in multiple defamation lawsuits brought by parents of children killed at Sandy Hook Elementary School was found liable by default.
This week a jury was appointed to consider how much Jones should pay in damages to Neil Heslin and Scarlett Lewis - two of the parents who have sued Jones for defamation over his false claims that the school shooting was a government-sponsored crime orchestrated fraud.
After the dramatic trial, the jury ordered Jones to pay more than $4 million in damages - a fraction of the $150 million sought by Heslin and Lewis. During the trial, Jones claimed that any amount over $2 million would "sink" his channel Infowars, but he was cut short by the judge presiding over the defamation damages hearing. The jury ultimately ordered Jones to pay $45.2 million in punitive damages.
On Friday, the jury heard testimony regarding Jones' financial condition as it continued to award punitive damages against him -- with the aim of preventing similar behavior in the future.
ADVERTISEMENT
Bernard Pettingill, a forensic economist who testified during the defamation damages hearing, said Jones' net worth is unclear because he provided little information during the litigation.
The forensic economist estimated Infowars' annual earnings at an average of $53 million and put the net worth of Jones and his company, Free Speech Systems, at between $135 million and $270 million. While Free Speech Systems filed for bankruptcy last week, Pettingill said Jones' $53 million in debt to another company Jones owns makes him appear like he's in serious financial trouble, when he really isn't .
"We can't say exactly what he does for a living, how he actually makes his money," Pettingill said, but added that Jones "is a very successful man."
Pettingill also claimed that the Infowars host was funneling $11,000 a day into a shell company it controls, with payments starting in late September 2021. Around the same time, he was found liable in the Texas defamation cases, according to documents obtained by HuffPost on September 30, 2021.
Jones' attorney denied the claim, saying it is a real company that will mature when Jones is 74 years old.
Read the original article on Insider

Last News

Former NFL player and 'AGT' finalist fumbles magic trick during live show

Former NFL player and 'AGT' finalist fumbles magic trick during live show

Trump 'endorses' Dan Goldman, the lawyer who led his impeachment, amid a confounding string of Truth Social posts praising Democrats

Trump 'endorses' Dan Goldman, the lawyer who led his impeachment, amid a confounding string of Truth Social posts praising Democrats

Christina Ricci Says She Is Embarrassed by Her Performance in Casper : 'I Didn't Try Very Hard'

Christina Ricci Says She Is Embarrassed by Her Performance in Casper : 'I Didn't Try Very Hard'