The NRA information for chapter and proclaims that New York will likely be deserted for Texas
Rob Luna, CEO of Surevest, Luke Lloyd, Investment Advisor at Strategic Wealth Partners, and Michele Schneider, CEO of MarketGauge Group, on the best investment strategies for today’s volatile markets.
The National Rifle Association has filed for bankruptcy and plans to drop what CEO Wayne LaPierre described as “New York’s toxic political environment” and move its headquarters to Texas.
“The plan can be summed up very simply: We’re DUMPING New York and pursuing plans to reintegrate the NRA in Texas,” LaPierre wrote in a letter to members.
The gun rights group has had legal problems in New York in recent years. Attorney General Letitia James petitioned the court to disband the organization on allegations of financial fraud.
NRA SETTLES NEW YORK INSURANCE CASE WITH FINE US $ 2.5M, 5 YEAR BAN
“The NRA’s claimed financial status has finally reached its moral status: bankrupt,” James said in a statement Friday. “While we are reviewing this filing, we will not allow the NRA to use this or any other tactic to evade the accountability and oversight of my office.”
New York Attorney General Letitia James speaks during a news conference in New York, the United States, on Thursday, August 6, 2020. New York tries to disband the National Rifle Association when the Attorney General accused the gun rights group and their c
James sued the NRA, LaPierre and three other current and former executives in August for allegedly losing $ 64 million in charitable funds.
The NRA filed a counterclaim accusing James of targeting her for her political positions and violating her rights to freedom of expression as a nonprofit organization.
According to LaPierre, the bankruptcy has no effect on membership.
Get FOX BUSINESS on the go by clicking here
“NRA supporters will continue to enjoy all of the full member benefits – from new members to Life members to Benefactor members,” he wrote. “We will continue to publish and deliver your magazines. We will continue to train Americans and teach them firearms safety. We will continue to teach the safety of hunters. Most importantly, we will continue to fight for your freedom and the freedom of all Americans – just as we have done over the years. In fact, we are expanding our national platform. “
CLICK HERE TO READ MORE ABOUT FOX BUSINESS
The move comes after the NRA poured at least $ 4.5 million into the Georgia Senate runoff elections, in which both Republican incumbents narrowly lost to Democratic challengers. And in November the group settled an insurance claim in New York for $ 2.5 million without admitting any wrongdoing.
Brady United, a nonprofit that aims to end gun violence, has also weighed.
“The NRA cannot file for bankruptcy in order to evade potential criminal and civil accountability in New York,” the group’s president Kris Brown said in a statement. “The NRA can run, but they cannot hide and their days are numbered. No organization is above the law.”
The group has its own Lega problems with the NRA. She filed a petition with the Internal Revenue Service in 2019 to end the tax-exempt status.