The National Rifle Association of the USA declared bankruptcy

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The National Rifle Association (NRA) of the United States filed for bankruptcy protection on Friday and announced that it will move to Texas as part of a restructuring plan to refloat its financial situation. America's largest conservative gun lobby and organization blamed New York's corrupt policy and regulatory environment,where it faces a lawsuit from state attorney general Letitia James. New York has accused the leaders of the nonprofit organization of diverting millions of dollars for their personal use and declaring losses to the NRA worth 64 million dollars. The District of Columbia has also sued the organization for improper use of funds obtained from donations to its foundation. This movement will allow for long-term and sustainable growth that ensures that the NRA remains the main defender of constitutional freedoms, the organization said in a statement referring to the right to own and bear arms. The plan can be summarized simply: we throw New York in the trash and we are going to reincorporate the NRA in Texas, said the organization's leader, Wayne LaPierre, in an internal letter denouncing an alleged political persecution. Attorney General Letitia James said LaPierre and three other senior NRA officials had used members' dues and donations for years as their personal piggy bank, spending tens of millions of dollars on themselves and their accomplices, in violation of the laws governing non-profit organizations. James, a Democrat, denied that he was acting on political grounds. "lThe alleged financial situation of the NRA has finally reached its moral state: bankrupt, James said after the organization's announcement. As we review this submission, we will not allow the NRA to use this or any other tactic to evade accountability and oversight of my office. The NRA declared debts of 500 million dollars in its process to qualify for the suspension of payments of Chapter 11 of the bankruptcy law of the United States. The powerful gun-loving partner donation network of the NRA, one of the main pro-Republican lobbying groups, has been hurt by the covid-19 pandemic. Although the NRA's headquarters are in Virginia, it has been registered as a non-profit organization in New York since 1871. For decades, the NRA has represented the views of millions of firearm owners and enthusiasts across the United States, fighting with substantial success to loosen and eliminate gun controls, citing the Second Amendment right to bear arms of the United States Constitution. He was able to shape major political careers by endorsing candidates who aligned with his views and pummeling those who supported gun regulation. The US government counted 38,390 firearm deaths in 2018, the latest year for which data is available. Just over a third were homicides, and the rest were mainly suicides.