I believe that's correct.
AJ reportedly transferred ownership of one his houses to his wife about a year ago. However, this was obviously done in anticipation of civil liability and it may well be voided by a court on the basis that it was fraudulent:
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“I don’t need asset protection. Last year, I transferred everything to my wife.”
Bad strategy. The transfer of assets to a spouse is usually not effective. . . .
Finally, the transfer to the spouse must have occurred years in advance of a claim by a creditor, lest the transfer be challenged as a
fraudulent conveyance.
Courts have the ability to look back in time for six years and undo fraudulent transfers. Thus, a husband sued this year must have transferred the assets to his wife at least six years ago.<<<
"I don’t need asset protection. Last year, I transferred everything to my wife." Bad strategy. The transfer of assets to a spouse is usually not effective.
www.assetlawyer.com
For AJ, transferring the assets may well be a losing strategy in the end, but it's probably better than nothing because it at least puts the burden on the plaintiffs to prove in court that the transfers were fraudulent.
Here's a short blog post about possible shell companies AJ may own. As you can see, the guy who wrote the blog found 13 companies that may be related to AJ.
This Asset Search Blog post asks: Did Infowars host Alex Jones hide money through shell companies, fraudulent transfers and nominees?
www.assetsearchblog.com
In addition to the direct transfers and potentially fraudulent shell companies, my best guess is that AJ may have also transferred assets into offshore trusts.
Overall, bankruptcy is not a great strategy because it puts the court in control. However, AJ didn't really have any viable options so it might be better than nothing. He talks a lot of smack but his actions broadcast desperation.
As a practical matter, AJ will probably continue to stonewall and the litigation will probably continue for many years. I'm not sure it will ever be fully resolved.