We know everything about bankruptcy
25/04/2024
Thursday
25 April 
1970 Bulgaria and Romania joined the European Union
1970 Bulgaria and Romania joined the European Union
1970 The judicial liability for absenteeism, introduced in 1940, was canceled in the USSR
1970 The judicial liability for absenteeism, introduced in 1940, was canceled in the USSR
1970 The meeting on the Elbe of Soviet and American troops
1970 The meeting on the Elbe of Soviet and American troops
NATIONAL RIFLE ASSOCIATION OF AMERICA FILES FOR BANKRUPTCY AMID SCANDAL
The financial scandal that emerged around the American Rifle Association (NRA) forced the organization to file for bankruptcy and change its location. From New York State, where the leaders of the association were actually accused of fraud, the NRA moves to Texas.
The reason for the scandal was the actions of the New York State Attorney General Laetitia James. Back in August 2020, she filed a statement in the Supreme Court of the United States, demanding that the organization's managers should be held legally liable for tax fraud. According to the head of the prosecutor's office, the multimillion-dollar donations received by the association were not spent on charity, but were used exclusively for selfish purposes, which led to the personal enrichment of the NRA leadership.
The fact is that the Shooting Association of America is a non-profit organization that has been advocating for the right of the US citizens to freely carry firearms for many years.
Therefore, as political experts note, the moment of the NRA representatives' statement on bankruptcy was not chosen by chance.
This happened after the storming of the American Capitol building by Trump's supporters that took place on January 6. It is known that as a result of the events, five people (including a police representative) were killed and many were injured. The authorities did not give official permission to bring firearms to the rally.
After the assault, analysts recorded a growing demand for the firearms, as well as a rise in the stock quotes of its manufacturers.
Smith & Wesson grow by 18.4%, while Sturm Ruger & Co gained 12%.
It is imnteresting that the plan to leave New York State and subsequently re-incorporate in Texas, announced by NRA CEO Wayne Lapierre, is being implemented by the organization in a situation where its financial position is sufficiently stable. The goal of bankruptcy, according to the association, is to put affairs in order and get out of the way of prosecution from the state attorneys. The organization emphasized that the NRA has no plans to fire any of its employees.
