Valley gun manufacturer: BOA froze funds over product - KTRE.com | Lufkin and Nacogdoches, Texas

Valley gun manufacturer: BOA froze funds over product

American Spirit Arms owner and CEO Joe Sirochman American Spirit Arms owner and CEO Joe Sirochman
Sirochman hold one of his company's assault rifles Sirochman hold one of his company's assault rifles
American Spirit Arms' manufacturing plant in Scottsdale. American Spirit Arms' manufacturing plant in Scottsdale.
SCOTTSDALE, AZ (CBS5) -

A local gun manufacturer says Bank of America withheld nearly $100,000 worth of deposits because of what he is selling.

Joseph Sirochman owns American Spirit Arms in Scottsdale. The company manufactures high-end rifles like the AR15, M16 Rifle and  M4 Carbine.

"Everything is American made, even down to the metal that we buy," said Sirochman.

"It's melted and manufactured in the USA. We're an American company. Made in American for Americans," he continued.

In mid-December, after the shooting in Connecticut and as talks heated up about a possible assault rifle ban, American Spirit Arms' e-commerce sales skyrocketed.

"Our internet sales started to increase. The deposits really spiked. We basically got five times our normal deposit was coming from our e-commerce site," recalled Sirochman.

However, the CEO and owner of the company said he quickly noticed deposits were not showing up in his company's accounts, so he called Bank of America, with which he had been doing business with for about a decade.

"Bank of America decided to put those deposits under review. We are a small business sand we rely on those deposits, but the review was only supposed to be 48 hours - 48 hours started to turn into two weeks. (Those holds were) not good for a small business that needs the cash flow to actually run its own business," said Sirochman.

Sirochman called the bank's Merchant Services Department and was eventually connected to a manager. Sirochman said she told him "We believe you shouldn't be selling guns and parts on the internet."

He posted the ordeal on his company's Facebook page, and after the post went viral, Sirochman said Bank of America released the funds. He says he believes the bank did not want to support a company with a controversial product.

"(Bank of America held the funds) because we are a firearms manufacturer, and that is in the political spotlight and they had a chance to slow us down," Sirochman said.

"We have all the proper licensing. We follow all the rules and regulations. We're audited by the ATF. We're visited by Homeland Security on a very normal basis," he continued.

CBS 5 reached out to Bank of America multiple times for comment, but our calls and emails have not been returned.

Sirochman has since moved his business to a local bank.

You can see Sirochman's original Facebook post by clicking here.

Copyright 2013 CBS 5 (KPHO Broadcasting Corporation). All rights reserved.

Sidebar: Gun control battle

Updated:

SPECIAL SECTION: Arizona Gun Control Battle SPECIAL COVERAGE: National Gun Control Battle NEW SECTION: Security Proposals for AZ Schools COMPLETE COVERAGE: CT School Shooting More>>

  • East Texas NewsMore>>

  • Community rallies behind newborn after overcoming obstacles left behind by Hurricane Harvey

    Community rallies behind newborn after overcoming obstacles left behind by Hurricane Harvey

    Sunday, September 24 2017 7:23 PM EDT2017-09-24 23:23:50 GMT
    (Source: Crystal Sepulvado)(Source: Crystal Sepulvado)

    When Crystal and Shane Sepulvado learned they were pregnant with their third child, they were ecstatic. But immediately Crystal knew something was not right, as relied on her experience working at an OB-GYN office. "When we looked at the ultrasound, we has seen fluid around her heart," Crystal said. Doctors later explained to the couple that their unborn child had a hole between her ventricles. With an early pregnancy, the couple was rushed to Houston,...

    More >>

    When Crystal and Shane Sepulvado learned they were pregnant with their third child, they were ecstatic. But immediately Crystal knew something was not right, as relied on her experience working at an OB-GYN office. "When we looked at the ultrasound, we has seen fluid around her heart," Crystal said. Doctors later explained to the couple that their unborn child had a hole between her ventricles. With an early pregnancy, the couple was rushed to Houston,...

    More >>
  • Defense questions investigator in third day of Henderson trial

    Defense questions investigator in third day of Henderson trial

    Friday, September 22 2017 7:19 PM EDT2017-09-22 23:19:49 GMT
    James Henderson's defense attorney, Stanley Sokolowski, started off the third day of court by questioning the state's witness, Investigator Bill Rulland. The cross examination lasted most of the morning and even a little into the afternoon. According to Investigator Michael Molnes, with the Houston County Sheriff's Office, Sokolowski attempted to discredit Brenna Theuer's witness testimony, as well as testimony from Robert Mobley.  The trial is expected to head into closing arg...More >>
    James Henderson's defense attorney, Stanley Sokolowski, started off the third day of court by questioning the state's witness, Investigator Bill Rulland. The cross examination lasted most of the morning and even a little into the afternoon. According to Investigator Michael Molnes, with the Houston County Sheriff's Office, Sokolowski attempted to discredit Brenna Theuer's witness testimony, as well as testimony from Robert Mobley.  The trial is expected to head into closing arg...More >>
  • Tar-covered tires stick to parking lot of Lufkin tire shop

    Tar-covered tires stick to parking lot of Lufkin tire shop

    Friday, September 22 2017 7:09 PM EDT2017-09-22 23:09:01 GMT
    More than a few tar-covered tires are hanging on to the parking lot of a Lufkin tire shop.  On August 31, newly laid asphalt on Loop 287 started sticking to tires of those driving, leaving many of the cars un-driveable. As of Friday, the Texas Department of Transportation hadn't come out with an official cause for the incident, but that hasn't stopped over 600 people from filing claims with them. Copyright 2017 KTRE. All rights reserved.More >>
    More than a few tar-covered tires are hanging on to the parking lot of a Lufkin tire shop.  On August 31, newly laid asphalt on Loop 287 started sticking to tires of those driving, leaving many of the cars un-driveable. As of Friday, the Texas Department of Transportation hadn't come out with an official cause for the incident, but that hasn't stopped over 600 people from filing claims with them. Copyright 2017 KTRE. All rights reserved.More >>
Powered by Frankly