- The Washington Times - Tuesday, January 14, 2014

H. Ty Warner, the billionaire creator of Beanie Babies, was sentenced to two years of probation on Monday for tax evasion.

Mr. Warner pleaded guilty in October to avoiding federal taxes on $25 million of income he tucked away in a Swiss bank account, a CBS affiliate in Chicago reported. Prosecutors said at one point, the mogul was concealing as much as $107 million.

Mr. Warner could have faced up to five years in prison, but U.S. District Judge Charles Kocoras gave him two years probation, 500 hours of community service and a fine of $100,000.

Mr. Warner’s lawyers sought probation and community service because of his guilty plea and philanthropic work, CBS reported.

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