Summary
A company tied to Alex Jones, First United American Companies, is challenging The Onion’s winning bid to acquire Infowars in bankruptcy court, alleging fraud and collusion with the Sandy Hook families and the auction trustee.
The Onion’s $1.75M bid included incentives benefiting other creditors, which the trustee deemed superior to the $3.5M cash bid from the Jones-affiliated company.
The trustee rejected the allegations as baseless, describing the motion as an attempt to interfere with the auction process, while The Onion intends to transform Infowars into a parody site.
A hearing has been ordered to review the auction process.
So the Onion’s bid was higher over all for the other creditors and Jones is mad that they can’t pay his way out of this. The trustee is supposed to do what’s in the best interest of the creditors, which includes the families.
Also, having your friend buy your assets back for you out of bankruptcy seems like fraud, but I don’t know the specific laws.