Swiss Bank Accounts

Beanie Baby Creator Pleads Guilty to Tax-Dodging

Hid money in Swiss Bank account

|

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.

Advertisement