Home Finance News Former NRA finance chief liable for millions in damages over LaPierre’s expenses.

Former NRA finance chief liable for millions in damages over LaPierre’s expenses.

Former NRA finance chief liable for millions in damages over LaPierre’s expenses.

Wilson “Woody” Phillips, the former finance czar of the National Rifle Association (NRA), has been banned for a decade from managing money for any nonprofit organization in New York, as announced by the state’s attorney general. This ban follows Phillips’ involvement in a scheme to financially support the extravagant lifestyle of the NRA’s longtime chief executive, Wayne LaPierre. The settlement reached with Phillips includes a ten-year ban from fiduciary roles in any New York not-for-profit organization and requires training before potentially returning to such a position, while also holding Phillips accountable for $2 million in damages to the NRA for enabling LaPierre’s lavish spending on private jets, vacations, and other luxuries.

The ban on Phillips from managing money for nonprofits in New York marks a significant development in the ongoing legal saga involving the NRA, its former top executives, and the state’s attorney general. Phillips’ agreement to the ban, finalized in May after a jury found him liable for concealing and enabling LaPierre’s extravagant expenditures, relieves him from participating in the upcoming trial’s second phase. The trial, initiated by New York Attorney General Letitia James, has exposed financial mismanagement and corruption within the NRA, leading to calls for accountability and reform to prevent further abuse of power or misappropriation of funds in nonprofit organizations.

The legal proceedings involving the NRA and its former top executives shed light on the organization’s leadership, culture, and financial practices, revealing a troubling pattern of misconduct and lavish spending. With the ban on Phillips and ongoing efforts by the attorney general to appoint an independent monitor for the NRA and enforce restrictions on LaPierre and other individuals associated with the organization, a reckoning is underway to restore transparency and accountability in nonprofit governance. As the NRA faces continued scrutiny and legal challenges, the outcome of this trial could have far-reaching implications for the regulation and oversight of charitable organizations in New York and beyond.

Source link


Please enter your comment!
Please enter your name here