Ex-CFO of NRA Accepts 10-Year Money Management Ban

(USNewsBreak.com) – A New York jury found former NRA CEO Wayne LaPierre guilty In February of misspending the organization’s money, using it to fund a lavish lifestyle. Alongside him, jurors also found former CFO Wilson Phillips liable for failing to uphold his fiduciary duties as an executive for the nonprofit. The court ordered Phillips to pay $2 million in damages. However, he also reached a settlement with the New York Attorney General’s office to avoid a second phase of the trial. The AG withheld the details — until now.

According to the New York AG office’s press release on Tuesday, July 9, Phillips agreed to a stipulation prohibiting him from serving as a fiduciary for a nonprofit for 10 years. Additionally, if he chooses to return to that field, he must undergo mandatory training beforehand. He remains responsible for the $2 million in damages the jury ordered him to repay.

The settlement stemmed from a case filed by AG Letitia James against the gun rights organization in August 2020. LaPierre stepped down on January 31, 2024, and the state-empaneled jury found him guilty the following month following a six-week trial.

The NY AG’s office presented evidence, including numerous invoices for private flights to the Bahamas. LaPierre traveled to the islands with friends and family, and Phillips approved the expenses as business-related.

Other documents detailed lavish contracts LaPierre granted to his friends’ companies in exchange for gifts. Phillips approved and facilitated payments to those companies. The NRA also paid for landscaping at LaPierre’s home, gifts for the executive’s friends, and hair and beauty treatments for LaPierre’s wife, among other expenses. The court ordered LaPierre to repay $4.4 million in damages for money he spent taking luxury trips while using private planes and superyachts as part of his travels.

A second phase of the trial started on Monday, July 15, before Justice Joel Cohen. The judge will determine non-monetary penalties for LaPierre’s crimes. No jury will be present for this penalty phase.