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Alex Jones began moving $11,000 a day into an alleged shell company he owns in late 2021, a forensic economist testified.
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A jury sentenced Jones to pay $45.2 million in punitive damages for claiming the Sandy Hook shooting was a hoax.
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The forensic economist testified that Jones takes advantage of his debt by making him look like it’s worse than it actually is.
Infowars host Alex Jones began moving $11,000 a day to an alleged shell company he controls in late 2021, a forensic economist testified Friday, around the time he was found default liable in several libel lawsuits brought by parents of children who were murdered at Sandy Hook Elementary. School.
This week, a jury was tasked with deliberating how much in damages Jones should pay to Neil Heslin and Scarlett Lewis — two of the parents who sued Jones for defamation over his false claims that the school shooting was a government-orchestrated hoax.
After the dramatic trial, the jury ordered Jones to pay more than $4 million in compensatory damages — a fraction of the $150 million Heslin and Lewis had requested. During the trial, Jones claimed any money over $2 million would “galvanize” his Infowars channel, but he was cut off by the judge presiding over the defamation hearing. The jury ultimately ordered Jones to pay $45.2 million in punitive damages.
On Friday, the jury heard testimony regarding Jones’ financial position as they continued to review punitive damages against him – aimed at deterring similar behavior in the future.
Bernard Pettingill, a forensic economist who testified at the defamation damages hearing, said Jones’ net worth was unclear due to the scant information he provided during lawsuits.
The forensic economist estimated Infowars’ revenues averaged $53 million a year and estimated the net worth of Jones and his company Free Speech Systems at $135 million to $270 million. While Free Speech Systems filed for bankruptcy last week, Pettingill said Jones’ $53 million debt to another Jones-owned company makes him look like he’s in deep financial trouble when, in fact, he isn’t.
“We can’t really put our finger on what he does for a living, how he makes his money,” Pettingill said, adding that Jones is “a very successful man.”
Pettingill also claimed the Infowars host was funneling $11,000 a day to a shell company he controls, with payments commencing in late September 2021. 30-09-2021.
Jones’ attorney disputed the claim, saying it’s a real company that matures when Jones is 74.
Read the original article on Insider
