A federal judge on Friday ordered the liquidation of conspiracy theorist Alex Jones ′ personal assets and was still deciding on his company’s separate bankruptcy case. The decision could determine the future of his Infowars media platform, as Jones owes $1.5 billion for his false claims that the Sandy Hook Elementary School shooting was a hoax.
Judge Christopher Lopez approved converting Jones’ proposed personal bankruptcy reorganization to a liquidation. He was still set to rule on whether Jones’ company, Austin, Texas-based Free Speech Systems, also should be liquidated.
It wasn’t immediately clear what will happen to Free Speech Systems, which is Infowars’ parent company.
Many of Jones’ personal assets will be sold off, but he is expected to keep his primary home in the Austin area and some other belongings that are exempt from bankruptcy liquidation. He already has moved to sell his Texas ranch worth about $2.8 million, a gun collection and other assets to help pay debts.
LLCs can be pierced once it is proven in court that personal assets were purchased from LLC money. I’m not a lawyer but from what I have heard, you can not use LLC as your personal slush fund and hide behind limited liabilities of LLC
Unless your surname is Trump, of course.