GILBERT, Ariz. (AP) -- A Gilbert, Arizona, firearms manufacturing firm will stop making guns after the owner pleaded guilty to illegally selling handguns, rifles and shotguns.
Cavalry Arms Corp. owner Shawn Nealon admitted in federal court to illegally selling up to 40 weapons to an out-of state buyer.
Nealon surrendered his federal firearms licenses, which means the company will no longer be able to import, manufacture or deal in weapons or ammunition.
He says Cavalry will concentrate on developing firearm accessories and medical products.
Nealon's lawyer, Mark Vincent of Chandler, calls the charges ridiculous.
He says no gun dealer can comply with all the regulations.
The federal Bureau of Alcohol, Tobacco, Firearms and Explosives alleges Nealon failed to keep records, falsified records and lied.