Beanie Babies Billionaire Sentenced for Tax Evasion

Posted on January 28, 2014

Are you old enough to remember Beanie Babies, a late 1980s stuffed animal craze?

The creator of Beanie Babies, H. Ty Warner, was recently sentenced to two years of probation and 500 hours of community service for tax evasion. Warner avoided a prison sentence because of his charitable work and because he had already paid the tax, penalties, restitution and interest in full prior to the sentencing. Further, the judge stated that Mr. Warner had accepted responsibility and had attempted to participate in the IRS Voluntary Disclosure Program.

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