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BUSTED Beanie Babies Creator Evaded Taxes New York Daily News

Beanie Babies Creator Evaded Taxes

Hopefully H. Ty Warner kept the tags on all his Beanie Babies, because he's going to needs $53 million fast. The creator of the tiny-animal empire that ruled the ’90s has been accused of federal tax evasion. Apparently, as billionaires are wont to do, he had a secret offshore bank account and did not report the money he made from it to the IRS. Though a lawyer for the 69-year-old has issued a statement saying that Warner plans to plead guilty and pay the $53 million fine, there is still a chance that he could go to jail. A federal-tax-evasion conviction could mean up to five years in prison.

September 18, 2013 2:56 PM