NRA Debunks Claims that George Soros Controls Freedom Group
The NRA Institute for Legislative Action (ILA) has issued a statement regarding the internet rumors that George Soros in some way controls Cerberus Capital Management, or the Freedom Group of companies. As we have stated in the Daily Bulletin, Soros has no connection to the Freedom Group or Cerberus Capital Management (a holding company that owns the Freedom Group). Claims that Soros is involved in Cerberus or the Freedom Group are 100% false. Here is the NRA ILA statement first issued on October 14, 2011:
From the NRA ILA:
Recently, an old rumor regarding Cerberus–the private equity firm that owns Freedom group, a holding company that in turn owns a number of firearms manufacturers, including Remington, Marlin, Bushmaster, and DPMS–was in some way tied to George Soros.This rumor is completely false and baseless.
NRA has had contact with officials from Cerberus and Freedom Group for some time. The owners and investors involved are strong supporters of the Second Amendment and are avid hunters and shooters. In reality, at no time has George Soros ever been a part of the ownership group of Freedom Group or Cerberus, and as a privately-traded corporation, there is no possibility that he will be in the future.
This unsubstantiated rumor has caused a great deal of unnecessary concern for gun owners. NRA-ILA urges our members to take great care before repeating baseless rumors[.]
On July 12, 2012 the NRA-ILA posted a follow-up:
An old rumor has once again resurfaced alleging that Cerberus–the private equity firm that owns Freedom group, a holding company that in turn owns a number of firearms manufacturers, including Remington, Marlin, Bushmaster, and DPMS–is in some way tied to George Soros.
This rumor is completely false and baseless.
Following is a statement from Freedom Group, Inc., addressing the rumor:
Despite rumors to the contrary, Cerberus Capital Management, L.P., the firm which owns Freedom Group. Inc. (FGI), the holding company for such firearms manufacturers as Remington, Marlin, Bushmaster and DPMS, is in NO WAY affiliated with anti-gun activist George Soros.
George Soros has never been a part of Freedom Group or Cerberus. Further, as Cerberus is a privately owned corporation, run by sportsmen, shooters and firearms enthusiasts, we can say with great sincerity and certainty that George Soros will never be a part of the Freedom Group family of companies.
“If anyone should know whether George Soros is affiliated with either Freedom Group or Cerberus, it’s me,” said George Kollitides, Executive Chairman and Chief Executive Officer of FGI. “I spent the last eleven years of my career at Cerberus and just recently stepped down to become executive chairman and chief executive officer of FGI. I did this in order to devote 100 percent of my time, effort and passion to a company I spent years building. I can emphatically proclaim, without the slightest of doubt, that George Soros has never, does not and never will own or be affiliated with Cerberus or Freedom Group.”
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Tags: Bushmaster, Cerberus, Freedom Group, George Soros, Marlin, Remington, Soros
This had been one of my worries since seeing Cerberus buying up many arms manufacturers. Mainly because I didn’t realize they were privately traded stock. It’s funny that this fear turned into rumor. Well what a relief it’s only a rumor.