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Beanie Babies creator wants probation, not prison, for tax evasion
Beanie Babies creator wants probation, not prison, for tax evasion

H. Ty Warner, the billionaire creator of the popular Beanie Babies toys, is urging a federal judge to sentence him to probation for tax evasion. The 69-year-old tycoon pleaded guilty to a single count of felony tax evasion in October, acknowledging that he failed to report millions of dollars of interest income from a secret Swiss bank account from 1999 to 2007. Warner was on a list of 285 names that Swiss banking giant UBS gave to the Justice Department in 2009 in an attempt to mitigate its own criminal liability in a massive U.S. crackdown on offshore tax evasion. Under a plea agreement, Warner has promised to pay more than $16 million in back taxes and interest, plus a $53.5-million...

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