US gun lobby NRA files for bankruptcy | Free press

Washington (AP) – The powerful US arms lobby organization NRA has declared bankruptcy as part of a “restructuring” and wants to move its legal seat to Texas.

The National Rifle Association said they wanted to leave New York and reposition themselves in Texas. Bankruptcy is part of a “new strategic plan”. The NRA emphasized that the financial position of the organization was strong. There will also be no direct impact on business operations or workforce. The organization justified the move with the aim of leaving a “poisoned” and “corrupt” political environment in New York.

New York State Attorney General Letitia James filed suit against the NRA in August seeking a solution. “Fraud and abuse” had been commonplace for years, she said as the reason. Among other things, leaders are said to have embezzled money for luxury travel and given orders to family members and friends.

The NRA has not-for-profit status in the US and is therefore subject to special requirements for using donations, charities, and accounting. It is considered a very conservative organization with great political influence and a loyal supporter, especially of the Republicans of outgoing US President Donald Trump. The summer indictment had called Trump a “ terrible thing ” and advised the NRA to move its headquarters to Texas.

The NRA is based in Fairfax, Virginia, and may be sued in New York for registration as a nonprofit.

James said after the NRA’s announcement that it would review the documents but would not allow the organization to use “this or any other tactic” to circumvent its agency’s accountability and oversight.

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