Breaking News Billionaire “Beanie Babies” creator Ty Warner better hope he didn”t take the tags off any of his stuffed toys — Nana the Monkey, anyone — because he just got slammed with a $53.5 million penalty for tax evasion.
Warner — worth a reported $2.3 billion — was charged with federal tax evasion Wednesday morning after allegedly failing to report more than $3 mil in income he earned in an offshore Swiss bank account back in 2002.
But the toy tycoon won”t be going to prison for up to 5 years — he struck a plea bargain with prosecutors to keep his ass out of the big house, agreeing to plead guilty to the tax evasion charge instead … and pay the penalty ASAP.
Warner”s lawyer said the billionaire accepts full responsibility for his actions, calling the debacle “an unfortunate situation that Mr. Warner has been trying to resolve for several years now.”
Disclaimer: our sources does not endorse investing in Beanie Babies for any reason whatsoever. Spend all your money on Pogs instead.