Local News

Beanie Babies founder Ty Warner sentenced to 2 years probation

The founder of the hugely successful “Beanie Babies” is sentenced on Tuesday to two years probation and 500 hours of community service for tax evasion.

Ty Warner pleaded guilty to one count of tax evasion in October 2013. He failed to report to the IRS more than $24 million in gross income he hid in bank accounts in Switzerland for 12 years.

He apologized to the court for his actions before his sentencing.

Prosecutors did not recommend a prison length, but suggested he receive around four years behind bars. The judge brushed off prison time, and highlighted his charitable works.

Warner has agreed to pay a $53 million civil penalty and at least $16 million in back taxes.

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6 Comments to “Beanie Babies founder Ty Warner sentenced to 2 years probation”

    Shaniqua said:
    January 14, 2014 at 12:49 PM

    so, the pathetic whining to the judge paid off. if it was you and me, we'd rot in jail.

    Rudy said:
    January 14, 2014 at 1:33 PM

    I agree….this clown needs to be out away……bet he paid off all the people he needed to also…….

    calvin said:
    January 14, 2014 at 2:23 PM

    what kind of message is this as well to rich guys……go ahead and steal tens of millions of dollars…….even if they catch u, you're not going to jail

    Shaniqua said:
    January 14, 2014 at 5:54 PM

    but he is paying abuttload of fines, in all fairness

    ed turner said:
    January 14, 2014 at 7:58 PM

    I can think of several Black Actors who've spent time in jail for this. And they didn't even try to hide money in a swiss account. Wesley Snipes comes to mine. I wonder what they think about this?

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