National Rifle Association files for bankruptcy


New York, USA - The U.S. National Rifle Association (NRA) hosted bankruptcy protection this Friday and announced that it will move to Texas, as part of a restructuring plan to refloat its financial situation.

America's most important conservative arms lobby and organization blamed New York's "corrupt policy and regulatory environment," where it faces a lawsuit by the state's attorney general, Letitia James.

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"The plan can simply be summarized: we throw New York away and rejoin the NRA in Texas," organization leader Wayne LaPierre said in an internal letter denouncing alleged political persecution.

The NRA declared $500 million in its process to qualify for the suspension of Payments under Chapter 11 of the U.S. Bankruptcy Act.

New York has accused nonprofit leaders of diverting millions of dollars for their personal use and declaring $64 million NRA losses.

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The District of Columbia has also sued the organization for improper use of funds earned from donations to its foundation.

"This movement will enable long-term and sustainable growth to ensure that the NRA remains the main advocate for constitutional freedoms," the organization said in a statement regarding the right to own and carry weapons.

The powerful network of donations from NRA-loving partners, one of the leading pro-Republican lobbying groups, has been resentful of the Covid-19 pandemic.

Although the NRA headquarters are located in Virginia, it has been registered as a non-profit organization in New York since 1871.

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For decades, the lobby has defended the views of millions of gun owners in the United States, strongly opposing any regulation of that market.

Its influence is considerable and the organization spares no expense to support candidates defending the same positions in local and national elections.

The application of Chapter 11 in the United States results in a suspension of claims and prevents creditors from taking steps to obtain payment of their debts.

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"No major changes are planned in operations and staff," said Wayne LaPierre. "The NRA is not bankrupt, not for its activities and is not insolvent," he continued.

Founded to promote weapons skills, the small association of athletes and hunters has become a formidable political machine since the 1980s and its influence far exceeds the 5 million members it claims.

The NRA invested, for example, millions of dollars in Donald Trump's two presidential campaigns.

In 2019, LaPierre managed to scare away rivals trying to end his 30-year reign, without avoiding shameful revelation.

Internal media documents revealed LaPierre's expensive lifestyle, with luxury clothing and trips to the Bahamas or Italy paid for by the NRA through financial arrangements validated by domestic partners that along with other practices cost $64 million in losses over three years.

The NRA's aura has also resented the rise of shootings in the United States. Weapons killed more than 43,000 people by 2020, including suicides, according to the Gun Violence file.


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