The @NRA's claimed financial status has finally met its moral status: bankrupt.
While we review its bankruptcy filing, we will not allow the @NRA to use this or any other tactic to evade accountability and my office’s oversight.
— NY AG James (@NewYorkStateAG) January 15, 2021
Per the AP:
The National Rifle Association announced Friday it has filed for bankruptcy protection and will seek to incorporate the nation’s most politically influential gun-rights group in Texas instead of New York.
The announcement made on the NRA’s website comes months after New York’s attorney general sued the organization over claims that top executives illegally diverted tens of millions of dollars for lavish personal trips, no-show contracts for associates and other questionable expenditures.
The coronavirus pandemic has also upended the NRA, which last year laid off dozens of employees, canceled its national convention and scuttled fundraising. The NRA’s bankruptcy filing listed between $100 million and $500 million in assets and between $100 million and $500 million in liabilities. Still, the NRA claimed in announcing the move that the organization was “in its strongest financial condition in years.”
The NRA filed for Chapter 11 bankruptcy in federal court in Dallas and said it planned to incorporate in Texas, where records show it formed a limited liability corporation, Sea Girt LLC, in November 2020. Sea Girt LLC made a separate bankruptcy filing Friday, listing fewer than $100,000 in liabilities.
“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 NRA said in a statement…
MAH FREEDUMBS!!1!! He’s not even bothering to pretend it’s about gunsports any more…