[jwplayer idEHAXpq-tJpjdN8z]The New York Attorney General Letitia James has filed a lawsuit to dissolve the National Rifle Association.

The suit follows an investigation into the NRA for various instances of fraud.

The New York Attorney General has jurisdiction over the matter because the NRA is a non-profit corporation formed in New York in 1871 and remains chartered there to this day.

The AG has accused members of the NRA of self-dealing and causing over $64 million in losses to its members.

This Twitter thread explains the issue:

NRP reports:

Attorney General Letitia James claims in a lawsuit filed Thursday that she found financial misconduct in the millions of dollars, and that it contributed to a loss of more than $64 million over a three year period.

The suit alleges that top NRA executives misused charitable funds for personal gain, awarded contracts to friends and family members, and provided contracts to former employees to ensure loyalty.

Seeking to dissolve the NRA is the most aggressive sanction James could have sought against the not-for-profit organization, which James has jurisdiction over because it is registered in New York. James has a wide range of authorities relating to nonprofits in the state, including the authority to force organizations to cease operations or dissolve. The NRA is all but certain to contest it.

“The NRA’s influence has been so powerful that the organization went unchecked for decades while top executives funneled millions into their own pockets,” James said in a statement. “The NRA is fraught with fraud and abuse, which is why, today, we seek to dissolve the NRA, because no organization is above the law.”

The suit concluded the investigation that lasted 18-months.

This story is BREAKING. Continue to check back with TTN for updates as additional information becomes available.

UPDATE: Past NRA President David A. Keene reacts to the lawsuit:

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