NRA Files For Bankruptcy, Seeking To Evade NY Lawsuit, Probe

SMS
NRA Files For Bankruptcy, Seeking To Evade NY Lawsuit, Probe
New York attorney general seeking to dissolve group over diverting more than $60 million for lavish spending.
SHOW TRANSCRIPT

The National Rifle Association — the prolific gun rights group and major donor to Republican candidates — has filed for bankruptcy.

 Additionally, its looking to reincorporate in Texas as the New York Attorney General's office pursues a lawsuit seeking to dissolve the company over alleged financial improprieties.

The NRA filed for Chapter 11 Bankruptcy in Dallas after the pandemic forced the 5-million member group to cancel events and lay off employees in an election year.

In New York, Attorney General Letitia James accuses NRA leaders of diverting more than $60 million for private jets, luxurious vacations and paying off former employees to buy their silence

But the NRA insists it's in good financial health — instead saying it's leaving New York over what it calls an unfair political crackdown.

It said in a statement: “The move will enable long-term, sustainable growth and ensure the NRA’s continued success as the nation’s leading advocate for constitutional freedom – free from the toxic political environment of New York.”

The New York A.G. said she will proceed with enforcement actions, even if the NRA bolts to Texas.

She said: "We will continue our efforts because this organization has gone unchecked for years."

The NRA disputes the allegations and says it will prevail in court.