Beanie Babies Billionaire Skirts Jail Time For Tax Dodge

Law360, Chicago (January 14, 2014, 2:49 PM EST) -- The billionaire behind the Beanie Babies stuffed toy craze was sentenced to two years of probation and community service Tuesday for evading around $5 million in taxes on income from a secret Swiss bank account, avoiding the prison term sought by prosecutors.

H. Ty Warner — who has already paid off more than $27 million in back taxes and interest and a record $53.5 million penalty for failing to disclose an offshore account — must perform 500 hours of community service for three local high schools...
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