Beanie Babies billionaire H. Ty Warner faces up to 5 years for tax evasion

CHICAGO – The billionaire creator of Beanie Babies steps before a federal judge Tuesday to learn if he’ll have to spend up to five years behind bars for evading taxes on $25 million in income.

H. Ty Warner’s sentencing will also give him a chance to apologize at length for hiding his millions in Swiss bank accounts.

The 69-year-old apologized and wiped away tears when he pleaded guilty last year. But the judge in Chicago stopped him and said he could explain himself fully at sentencing.

Defence attorneys argue for probation, pointing to Warner’s unhappy childhood and his charity work.

But prosecutors say Warner should spend some time in prison; they don’t recommend how much.

A government filing says about Warner’s philanthropy: “Charity is not a get-out-jail card.”




Browse

Beanie Babies billionaire H. Ty Warner faces up to 5 years for tax evasion

  1. Lawyers pointing out that the 69 yo billionaire should receive a suspended sentence because he had an unhappy childhood? WTF???
    They would better off pointing out that in the US, filthy rich people don’t go to jail.

    • As an addendum, he didn’t get prison time, he got I think it was 18 months probation and made to promise not to do it again.

Your email address will not be published. Required fields are marked *