Stag Arms fined and shutting down. Threads merged.

Rebel Rouser said:
I wonder what is Colt going to do? They did a lot of subcontracting for Colt. Colt only makes the lowers and barrels. CMT was making their uppers. Anything stamped with a "C" is CMT.
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Unless I'm mistaken (and I totally could be), I thought that Colt used to get parts supplied by CMT, but had moved away from them after Stag came to be.
 
Stag screwed themselves on this one, bottom line.

Don't follow the rules and it will bite you in the ass and ruin you.

Sucks but it was totally self inflicted so nothing more to say.
 
I remember when this story first came out a few months ago. (one of) Stag's (preposterous) excuse(s) about the 3000 unserialized lowers was that the person who did the roll marks had been on vacation.
Another was that they kept some lowers unserialized incase a lower got f'ed up during manufacturing.

Kind of difficult to explain the 61 full auto lowers that were either not registered, or not registered to the business........ "I don't know where those came from?!"
 
yohann160 said:
Funny how billionaire banksters can keep shady records and lose track of 1 trillion dollars worth of bailouts and nothing seems to happen to them?

f:P:2:
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That's cause their buddies are presidents of countries and can hook em up!
 
This will likely impact the "lifetime warranty". Will be interesting to see how it plays out. I'd say this decreases Stag's value in the short term.
 
WOW that's unreal! they have been making a fantastic AR 15 for many many years.....on par with Colt if not better......Unbelievable that a company of this magnitude and how respected they are would go out like this....He pleaded guilty.....doubt it will shut down though...just pay fines and back to business!
 
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icelink said:
WOW that's unreal! they have been making a fantastic AR 15 for many many years.....on par with Colt if not better......Unbelievable that a company of this magnitude and how respected they are would go out like this....He pleaded guilty.....doubt it will shut down though...just pay fines and back to business!
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Tough to manufacture firearms without a license to manufacture firearms, though.
 
CMT isn't going anywhere. I've no doubt that STAG Arms was incorporated as a wholly separate legal entity. CMT would be protected as a result. I wouldn't be surprised if a new "buyer" had already been set-up and will take physical control of the company's assets and manufacturing facilities sooner rather than later. A new FFL and manufacturing license will be issued and it will be back to business as usual, although I hope with a little more attention to record keeping and legal conditions associated with their manufacturing license. It's really sad that Mark screwed the pooch so badly. He was a pretty nice guy and a big supporter of the shooting sports. I hope he will be able to move on and not let this derail his life. I really like Stag products and one of my first builds was with a Stag upper and lower.
 
X-man said:
CMT isn't going anywhere. I've no doubt that STAG Arms was incorporated as a wholly separate legal entity. CMT would be protected as a result. I wouldn't be surprised if a new "buyer" had already been set-up and will take physical control of the company's assets and manufacturing facilities sooner rather than later. A new FFL and manufacturing license will be issued and it will be back to business as usual, although I hope with a little more attention to record keeping and legal conditions associated with their manufacturing license. It's really sad that Mark screwed the pooch so badly. He was a pretty nice guy and a big supporter of the shooting sports. I hope he will be able to move on and not let this derail his life. I really like Stag products and one of my first builds was with a Stag upper and lower.
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Yup, but I bet the FSA has been waiting for it's new rifles.
 
The title of the thread is dramatic, but incorrect. Stag Arms has plead guilty to not registering a full-auto immediately as required by the NFA. The company has been fined, the CEO of Stag Arms has also been fined and is stepping down. The company will continue to manufacture and operate as they transition to new ownership. The guilty plea was agreed to in a deal to end other charges of faulty record keeping.
 
adamg said:
Tough to manufacture firearms without a license to manufacture firearms, though.
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As part of the plea deal, their license was extended through to new ownership being finalized. As noted above, it is business as usual, only with better record keeping.
 
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