Sandy Hook families offer conspiracy theorist Alex Jones cut-price deal to settle $1.5 billion debt for just 6% of what he owes them as he hides behind bankruptcies: ‘His time is up’

The families of Sandy Hook have offered Alex Jones a deal to pay off his $1.5 billion debt after saying “his time is up” for hiding behind his bankruptcy case.

The offer, filed in Jones’ personal bankruptcy case in a Houston court on Nov. 22, gives the conspiracy theorist the option to pay the families about six percent of what he owes them.

The InfoWars founder can choose to liquidate his estate and give the proceeds to the families, or he can pay a minimum of $8.5 million per year, plus 50 percent of all earnings above $9 million per year for 10 years.

The families called out Jones for continuing to live a lavish lifestyle despite the bankruptcy filing, saying he had failed to come up with a plan to pay damages.

“In short, Jones has in no way failed to act as the Bankruptcy Code’s mandated fiduciary in exchange for the breathing space he has been enjoying for almost a year. His time is up,” attorneys for the Sandy Hook families said in the filing.

Jones was ordered to pay $965 million in damages to the families and another $473 million in punitive damages.

The offer comes more than a year after Jones was ordered to pay $965 million in damages to the families and another $473 million in punitive damages.

He was judged to have defamed the families after promoting a conspiracy theory that the 2012 massacre of 26 women and children at Sandy Hook Elementary School in Newtown, Connecticut, never happened.

Relatives of the victims testified during the trials that they were harassed and threatened by Jones’ believers, who made threats and even personally confronted the grieving families, accusing them of being “crisis actors” whose children never existed.

Sandy Hook families nearly won $1.5 billion in judgments against Jones last year in lawsuits alleging repeated promotion of the false theory.

Erica Lafferty, the daughter of slain Sandy Hook principal Dawn Hochsprung, called the verdict “years in the making.”

“In this big moment, like every big moment since the shooting, I wish I could just call my mom and tell her about it,” she said. “I would tell her about the horror of seeing Alex Jones out here in court with the press… The heartache of reliving the shooting, with so many families sharing stories of their murdered loved ones.”

Several families of the Sandy Hook shooting victims became emotional as the damages amounts were read out in court.

David Wheeler, the father of 6-year-old Ben, visibly shook as the amounts were read out, while Robert Parker, the father of 6-year-old Emilie, cried with his head in his hands.

But the families have yet to see a cent of the money the jury awarded them.

Just months after the court ruling, Jones and Free Speech Systems – InfoWars’ parent company – filed for bankruptcy.

In October, Texas Judge Christopher Lopez issued a ruling and ruled that Jones cannot use his bankruptcy as protection.

Jones was found to have defamed the families as they repeatedly claimed that the 2012 massacre, which killed 20 students and six teachers (pictured), was a “hoax” and “staged.”

Officials are on scene outside Sandy Hook Elementary School on December 14, 2012. Family members of the victims testified during the trials that they were harassed and threatened by Jones’ believers.

During Monday’s hearing, Jones’ personal bankruptcy attorney, Vickie Driver, said the settlement offer was unrealistic.

“There are no financial records that will ever show that Mr. Jones ever did that in 10 years,” she said.

In last week’s filing, attorneys for the families disputed Jones’ claims that he cannot afford the settlement.

“Jones’ estate simply cannot finance an indefinite bankruptcy,” the report said.

“Indeed, the estate not only bears the costs of Jones’ professionals, but also hemorrhages approximately $65,000 to $90,000 per month (excluding legal and professional fees) to fund Jones’ lifestyle,” the filing said.

Nor has he done much to preserve, let alone maximize, the value of his estate for the benefit of his creditors — primarily the victims of Jones’ ruthless campaign to protect the families of children and others who attended Sandy Hook Elementary. School were murdered to discredit.

“He has refused to stick to a reasonable budget or engage with the committee on ways to limit spending.

“And he has resisted initiating meritorious circumvention actions against insiders.”

“There can be little doubt that the Chapter 11 cases must be resolved quickly.”

Meanwhile, Jones’ personal expenses totaled $93,000 in July alone, including thousands of dollars in meals and entertainment, according to his monthly financial reports in the bankruptcy case.

Court documents seen by DailyMail.com also showed he had lost $2.2 million in just eight months.

The Infowars host filed for bankruptcy last year, but a judge ruled he can’t use that as an excuse not to pay the damages he’s owed

Jones claims he does not have the money to pay damages. Reports indicate that his assets total $15.7 million and his debts total $1.6 million. His $2.6 million home in Austin, Texas pictured

Jones lists a $70,000 Dodge Charger and a $60,000 Chevy Tahoe among his assets in new bankruptcy filings

The money was spent on lavish purchases, including four cars worth $219,690 and two boats worth $114,300.

He racked up a whopping bill of $26,884 on meals and entertainment between December and July.

The podcast host also lists his other assets as his $2.6 million Austin home, despite the deed being transferred into his wife’s name in February, and a $1.7 million lake house about 20 miles away from his house.

He also owns a $2.1 million ranch and a $505,000 rental property, according to Houston bankruptcy court filings.

The amount of money Jones owes Sandy Hook families could grow even larger.

A lawsuit is still pending in Texas, filed by the parents of 6-year-old Noah Pozner, one of the children killed in the attack. A trial date has not yet been set.