The National Rifle Association has filed for bankruptcy. The embattled gun lobby group, besieged by allegations against its top leadership of years of misappropriating funds after reportedly spending $ 30 million on the election of Donald Trump’s president in the 2016 election cycle, also had embarrassing reports of leadership qualities with connections to get Russia.
“The NRA has listed assets and liabilities of up to $ 500 million each, according to the bankruptcy filing,” reports Bloomberg, announcing that the group has filed for Chapter 11 bankruptcy protection in Texas.
In August, New York Attorney General Letitia James announced a massive, devastating lawsuit against the National Rifle Association of fraud and proprietary trafficking, calling for the weapons group to be disbanded.
Bloomberg notes that the NRA plans to “restructure and reintegrate in Texas.”
This is breaking news and a developing story. Details can change. This story will be updated and NCRM is likely to post follow-up stories to this news. Stay tuned and update yourself for updates.
The post-NRA bankruptcy filings first appeared in the New Civil Rights Movement.
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