New York, Aug 7 (IANS): New York Attorney General (AG) Letitia James has filed a lawsuit seeking to dissolve the National Rifle Association (NRA) following an 18-month investigation that found the powerful gun rights group to be "fraught with fraud and abuse".

The lawsuit filed in a New York state court has alleged that the NRA and four of its top executives mismanaged funds and violated state and federal laws, resulting in the loss of more than $64 million for the organization over a three-year period, reports Xinhua news agency.

"The NRA's influence has been so powerful that the organization went unchecked for decades while top executives funnelled millions into their own pockets," James said on Thursday.

"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."

In the complaint, James laid out dozens of examples where the four individual defendants failed to fulfil their fiduciary duty to the NRA and used millions upon millions from NRA reserves for personal use, including family trips to the Bahamas, private jets, expensive meals, and other private travel.

The suit is the culmination of an investigation James' office launched in early 2019.

In addition to dissolving the NRA, she is also seeking to recoup the millions of dollars in lost assets.

The complaint will also be forwarded to the Internal Revenue Service.