Ty Warner, the creator of the popular Beanie Babies Toys, could be facing up to five years in prison. Warner apparently went through great lengths to try and hide 3.1 million dollars of foreign income from his accountants and the Internal Revenue Service by putting it in a Swiss bank account. In October, Warner did plead guilty to the charge of no filing a Foreign Bank Account Report and agreed to pay a 53.6 million dollar penalty. However, prosecutors are still pushing for jail time for Warner while his attorneys are only asking for probation. In 2002, Warner also failed to pay $885,300 in taxes which is why the prosecutors are asking for a more harsh punishment. According to Forbes, Warner's net worth in 2013 was 2.6 billion dollars.
http://news.yahoo.com/beanie-babies-creator-faces-sentencing-tax-evasion-121322290--sector.html
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