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.