The National Rifle Association has filed for bankruptcy, and plans to ditch what CEO Wayne LaPierre described as “the toxic political environment of New York” and move its headquarters to Texas.
“The plan can be summed up quite simply: We are DUMPING New York, and we are pursuing plans to reincorporate the NRA in Texas,” LaPierre wrote in a letter to members, according to Fox Business.
New York Attorney General Letitia James has been after the gun advocate group for years. She’s sought in court to have the organization dissolved over allegations of financial fraud.
“The NRA’s claimed financial status has finally met its moral status: bankrupt,” James said in a statement Friday. “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.”
James sued the NRA, LaPierre, and three other current and former executives in August for allegedly losing $64 million of the nonprofit’s funds.
When the lawsuit was filed, NRA President Carolyn Meadows called it “a baseless, premeditated attack,” claiming it targeted not just the NRA, but the constitutional rights it defends, Law Officer reported.
Consequently, the NRA filed a countersuit, accusing James of targeting it for its political positions and violating its rights to free speech as a nonprofit.
According to LaPierre, the bankruptcy will not impact membership, Fox Business reported.
“NRA supporters will continue to enjoy all their 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 firearm safety. We will continue to teach hunter safety. But most importantly, we will continue to fight for your freedom and the freedom of all Americans – as we have for all these years. In fact, we are expanding our national platform.”
In November, the NRA settled an insurance case in New York for $2.5 million without admitting wrongdoing.