Cavalry Arms raided by ATF today

These folks are going to need a good lawyer, especially given the panty-crapping media stories that will come out of this in order to foment hysteria.

Witness...

A Gilbert business was raided by federal officials Wednesday on suspicion of fraud and money laundering.

Officers from the Bureau of Alcohol, Tobacco and Firearms took hundreds of guns from the scene, including AK-47s, assault weapons and high powered rifles.

The number of weapons could top 1,000.

Officials say Cavalry Gun Manufacturing was the target of a search and seizure warrant.

From what I'm reading on the Interwebz, it may have been the handiwork of a disgruntled former employee...

Take that for what it's worth. And think long and hard what a disgruntled former ANYTHING could do to your gun rights, your business and your life.

UPDATE: David and Ryan both have more info. Ryan wonders when fraud and money laundering became the ATF's purview, while David discusses some of the "digging" media maggots did in this case.