24/7 Newsfeed

Put Reason 24/7 on Your Site


Follow Reason 24/7 on Twitter and via RSS

Beanie Baby Creator Pleads Guilty to Tax-Dodging

H. Ty Warner, the billionaire creator of Beanie Babies plush toys, pleaded guilty to failing to pay taxes on money he hid from the U.S. in a Swiss bank account.

Warner, who was charged with a single count of tax evasion last month, entered his plea today before U.S. District Judge Charles P. Kocoras in Chicago.

“I am pleading guilty because I am guilty,” Warner, 69, told the judge, leaning close to a lectern microphone as his voice choked with emotion.

Source: Bloomberg. Read full article. (link)

Editor's Note: We invite comments and request that they be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of Reason.com or Reason Foundation. We reserve the right to delete any comment for any reason at any time. Report abuses.