IMPACT Artist: Kelly Clarkson New Album: Kelly Clarkson releases 'Piece By Piece' Tuesday, March 3rd Read More

Beanie Babies Creator Charged With Tax Evasion

View Comments
(Photo credit: JOYCE NALTCHAYAN/AFP/Getty Images)

(Photo credit: JOYCE NALTCHAYAN/AFP/Getty Images)

10432249_603546923092652_1089561234_n Christine Lee
Wake up weekday mornings to 96.5 TIC to hear Christine Lee with Cra...
Read More

Billionaire “Beanie Babies” creator Ty Warner has been hit with a $53.5 million penalty for tax evasion.

What? All those fabulous Beanie Babies aren’t saving this guy from his tax problems??

Warner (worth a reported $2.3 billion) was charged with federal tax evasion yesterday after failing to report more than $3 mil in income he earned in an offshore Swiss bank account back in 2002. The toy tycoon agreed to plead guilty to the charge and pay the penalty, presumably hoping the judge will go easy on him. The maximum sentence for federal tax evasion is 5 years in prison. But hey, on the bright side, I hear SOME of his creations are still worth quite a bit. See which BB’s have increased their value here.

View Comments
blog comments powered by Disqus

Get every new post delivered to your Inbox.

Join 248 other followers