71°

Topics

Ty, Inc.
Beanie Babies founder gets probation for tax evasion
Beanie Babies founder gets probation for tax evasion

Ty Warner, the billionaire founder of Beanie Babies stuffed toys, was sentenced to probation for hiding millions of dollars in a Swiss bank account and failing to report his interest income. U.S. District Judge Charles Kocoras rejected federal prosecutors' request for a prison sentence, placing Warner on probation for two years and ordering him to perform 500 hours of community service. Before he was sentenced, Warner stood in a Chicago courtroom and apologized for his conduct, the Chicago Tribune reported. "Unfortunately, I never realized that the biggest mistake [I] ever made in my life would cost me the respect that was most important to me," Warner said. "For...

Loading