2019 Indiana National Rifle Association Annual Meeting. The NRA filed for Chapter 11 bankruptcy Friday, saying it plans to reintegrate as a nonprofit in Texas and leave New York, where the state has filed a fraud suit against it.
Michael Conroy / AP
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Michael Conroy / AP
2019 Indiana National Rifle Association Annual Meeting. The NRA filed for Chapter 11 bankruptcy Friday, saying it plans to reintegrate as a nonprofit in Texas and leave New York, where the state has filed a fraud suit against it.
Michael Conroy / AP
The National Rifle Association filed for Chapter 11 bankruptcy in Texas on Friday as its current headquarters, New York, pursue fraud proceedings against the organization.
The NRA was founded in New York in 1871 and has since presented himself as a defender of Second Amendment rights. The NO credits the move to Texas to a “corrupt political and regulatory environment” in New York.
New York Attorney General Letitia James Lawsuit filed the dissolution of the NRA in August. She accused CEO Wayne LaPierre and other senior staff of diverting millions of dollars from the nonprofit group Luxury vacations, private jets and more. James called for the funds to be returned and forbidden executives from ever working for a charitable organization in New York again.
“This is a pivotal moment in the history of the NRA,” LaPierre said in a statement. He said the NRA is “dumping New York … at a time when the NRA is in its toughest financial condition in years.”
Tim Mak. by NPR previously reported that legal problems cost the organization $ 100 million.
James vowed to hold the country’s largest pro gun organization accountable. “The NRA’s claimed financial status has finally reached its moral status: bankrupt,” she said said on twitter. “While we are reviewing the bankruptcy filing, we will not allow @NRA to use this tactic or any other tactic to evade the accountability and oversight of my office.”
The @NRA‘s claimed financial status has finally reached its moral status: bankrupt.
While we are examining the bankruptcy filing, we will not allow it @NRA Use these or any other tactic to evade the accountability and oversight of my office.
– NY AG James (@NewYorkStateAG) January 15, 2021
The organization said the move to Texas would “enable long-term, sustainable growth and ensure the continued success of the NRA as a leading advocate of the nation’s constitutional freedom – free from the toxic political environment of New York City.”
Its ongoing goals are “to combat activity against the Second Amendment, promote firearms safety and training, and promote public programs in the United States,” the NRA said.
