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National Rifle Association Files For Bankruptcy

by : Saman Javed on : 16 Jan 2021 09:11
National Rifle Association Files For BankruptcyPA

The US’s National Rifle Association (NRA) has filed for bankruptcy and will be moving from New York to Texas.

The group, which advocates for gun rights, said the ‘restructuring plan’ would rid it of the ‘toxic political environment’ of New York.

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The association has been based in New York since it was founded in 1871, but will now move to Texas as a non-profit.

‘The plan can be summed up quite simply: We are DUMPING New York, and we are pursuing plans to reincorporate the NRA in Texas,’ Wayne LaPierre, the executive vice-president said.

PA

‘We seek protection from New York officials who illegally abused and weaponised the powers they wield against the NRA and its members,’ he added.

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Despite filing for bankruptcy, Pierre said the NRA was ‘as financially strong as we have been in years’, as per the Independent.

The decision to move out of New York comes after the attorney general, Letitia James, announced that the state would try and dissolve the NRA, alleging that the association’s leadership had used $64 million on personal expenses.

At the time, the NRA’s president, Carolyn Meadows, dismissed the lawsuit as a ‘baseless, premeditated attack on our organisation and the Second Amendment freedoms it fights to defend’.

In response to the announcement, James said the move to Texas will not stop her team’s investigation: ‘The NRA’s claimed financial status has finally met its moral status: bankrupt.’

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She added: ‘While we review this filing, we will not allow the NRA to use this or any other tactic to evade accountability and my office’s oversight.’

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Topics: News, New York, Now, Texas, US

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    NRA files for bankruptcy, moving from New York to Texas