NRA Files For Chapter 11 Bankruptcy Protection

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The National Rifle Association has filed for Chapter 11 bankruptcy protection after a lawsuit was filed by the New York attorney general to end the group.

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The controversial gun rights organization filed for Chapter 11 bankruptcy after Attorney General Letitia James claims the group used millions in charity givings for personal use by senior officials. According to MSN, the NRA said in the following statement that they have filed to “escape a corrupt political and regulatory environment in New York.” However, James responded to the news and said the organization will not allow the filing to prevent them to be accountable for their actions.

“The NRA’s claimed financial status has finally met its moral status: bankrupt. 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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Reportedly, the organization is using bankruptcy filing to manage costs and other expenses.

 

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