January 14

Beanie Babies billionaire gets two years’ probation

H. Ty Warner, 69, was sentenced Tuesday for hiding millions in Swiss bank accounts.

The Associated Press

CHICAGO — The billionaire creator of Beanie Babies has been sentenced to two years’ probation and no prison time for evading taxes on $25 million in income.

click image to enlarge

Ty Warner, Beanie Baby creator and chief executive of Ty Inc., in a 2003 photo.

The Associated Press

H. Ty Warner, 69, was sentenced Tuesday for hiding his millions in Swiss bank accounts.

Defense attorneys had advocated for probation, pointing to Warner’s unhappy childhood and his charity work.

Prosecutors said Warner should spend some time in prison, though they didn’t recommend how much. They also said his philanthropy was not have be “a get-out-of-jail card.”

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