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BANKRUPTCY: Wayne LaPierre wants to restructure the NRA in Texas. Photo: Jose Luis Magana / FR159526 AP
The National Rifle Association (NRA) of the United States announced Friday that it will file for bankruptcy and restructure. The New York attorney general will not sue the NRA for that reason.
The New York Attorney General sued the NRA in August, demanding the organization’s dissolution. In her lawsuit, Laetitia James accused the leaders of the arms organization of, among other things, abusing financial means for personal purposes.
Now the NRA itself decides to go bankrupt in New York, rather than resurface as a nonprofit in Texas. The NRA itself states this on its website.
– The plan can be summed up very simply: We are leaving New York and pursuing plans to incorporate the NRA in Texas, says leader Wayne LaPierre, who points out that the NRA has more than 400,000 members in this state.
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GREAT ORGANIZATION: This image shows the NRA headquarters in Virginia. Photo: JIM LO SCALZO / EPA
The NRA states that you are technically filing for “Chapter 11” bankruptcy, which means you can rearrange and restructure your debt.
This will allow for long-term sustainable growth and will ensure the NRA’s continued success as the nation’s foremost defender of constitutional freedom – freedom from the toxic political environment in New York, the NRA writes according to the Associated Press.
State Attorney Laetitia James said in a statement Friday that “the NRA’s financial status is ultimately equal to its moral status: bankrupt.”
According to LaPierre, the NRA is “financially as strong as it has been for many years.”
According to James, NRA leaders over a three-year period have spent $ 64 million (NOK 530 million) on vacations and private flights, as well as buying the silence of former employees.
“We will not allow the NRA to use this or any other tactic to avoid being held accountable,” James said according to Reuters.
The NRA has filed a counterclaim and accuses James of attacking the organization’s right to free speech. According to Reuters, 16 Republican state prosecutors have given their support to the NRA.
The organization claims to have around five million members in total. It is based in Virginia, although it was founded as a nonprofit in New York in 1871.
