Beanie Babies Billionaire Gets Two Years Probation for Tax Evasion
The billionaire behind the Beanie Babies craze was in Federal Court on tax evasion charges for stocking away $25 million in a Swiss bank account and hiding it from the IRS. Ty Warner is one the highest profile Americans to be brought up on charges for filing false tax returns which he did for at least 11 years.
He issued an apology during sentencing in Chicago and said he felt ‘shame and embarrassment’ for what he had done. Because of charitable causes Warner has been behind for years (the judge praised him for that) the Beanie Babies billionaire won’t go to prison; he was sentenced to two years’ probation instead.