Magazine content is available exclusively for TIME subscribers.Wizard of Broke
A Klan group goes bankrupt
What do increasing numbers of small businesses have in common with one of the factions of the Ku Klux Klan? As of last week: bankruptcy. Said Bill Wilkinson, Imperial Wizard of the Invisible Empire, Knights of the Ku Klux Klan: "Everyone should try Chapter 11."
The Invisible Empire's financial problems began last year when the Internal Revenue Service assessed the Louisiana-based group, one of the largest Klan organizations in the U.S., $8,650 in back taxes, penalties and interest. Last week the Imperial Wizard, in the first formal step required under the federal Chapter 11 bankruptcy law, filed...
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