NRA’s Former Finance Czar Banned from Managing Money for Non-Profit Companies in New York

The National Rifle Association (NRA) has faced a series of controversies and lawsuits in recent years. One of the most significant ones is the case of Wilson "Woody" Phillips, the NRA’s former finance czar. Phillips has been banned from managing money for any non-profit company in New York for a decade, as announced by the state’s attorney general on Tuesday.

The Settlement

Phillips agreed to the ban in May, just three months after a jury found him liable in a scheme to bankroll the extravagant lifestyle of the NRA’s longtime chief executive, Wayne LaPierre. Under the agreement, Phillips is banned from serving as a fiduciary of a not-for-profit organization in New York for 10 years and must receive training before returning to any such position. He is still on the hook for $2 million in damages to the NRA for his role in concealing and enabling LaPierre’s lavish spending on things like exotic getaways and trips on private planes and superyachts.

The Background

The settlement comes after a trial in New York state court, which concluded in February. The jury found that LaPierre had misspent millions of dollars of NRA money, and Phillips owed $2 million. The jury also found that Frazer, the NRA’s former general counsel, had violated his duties, but did not owe any money or have cause to remove him from the organization. The jury further found that the NRA had failed to properly manage its assets, omitted or misrepresented information in its tax filings, and violated whistleblower protections under New York law.

The Investigation

The trial’s first phase concluded in February when a jury in state court in Manhattan found that LaPierre had misspent millions of dollars of NRA money. The jury said LaPierre must repay almost $4.4 million to the NRA and that Phillips owed $2 million. Jurors found Frazer violated his duties, but not that he owed any money or that there was cause to remove him from the organization.

The NRA’s Response

In a statement, NRA attorney William A. Brewer III said that the settlement distorts the record and speaks to the motives of the New York attorney general. He added that the agreement does not secure the monetary relief against Phillips that the jury awarded to the NRA, and that the settlement does nothing to effect collection of the millions that Phillips owes.

Conclusion

The case against Wilson "Woody" Phillips, the NRA’s former finance czar, is a significant blow to the organization’s leadership and raises questions about its accountability and transparency. The settlement bans Phillips from managing money for any non-profit company in New York for 10 years and requires him to receive training before returning to any such position. The case highlights the importance of oversight and accountability in non-profit organizations, particularly those that wield significant influence and power.

FAQs

Q: Who is Wilson "Woody" Phillips?
A: Wilson "Woody" Phillips is the NRA’s former finance czar who was banned from managing money for any non-profit company in New York for 10 years.

Q: What was the reason for the ban?
A: The ban was due to a jury finding Phillips liable in a scheme to bankroll the extravagant lifestyle of the NRA’s longtime chief executive, Wayne LaPierre.

Q: What did the jury find?
A: The jury found that LaPierre had misspent millions of dollars of NRA money, and Phillips owed $2 million. The jury also found that Frazer, the NRA’s former general counsel, had violated his duties, but did not owe any money or have cause to remove him from the organization.

Q: What does the settlement mean for Phillips?
A: Under the agreement, Phillips is banned from serving as a fiduciary of a not-for-profit organization in New York for 10 years and must receive training before returning to any such position. He is still on the hook for $2 million in damages to the NRA.

Q: What does the settlement mean for the NRA?
A: The settlement means that the NRA has taken another blow to its leadership and raises questions about its accountability and transparency.

Author: fortune.com

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