Friday, August 28th20.4°C
27214
26753

Beanie Babies billionaire H. Ty Warner to be sentenced, faces up to 5 years for tax evasion

CHICAGO - The billionaire creator of Beanie Babies steps before a federal judge Tuesday to learn if he'll have to spend up to five years behind bars for evading taxes on $25 million in income.

H. Ty Warner's sentencing will also give him a chance to apologize at length for hiding his millions in Swiss bank accounts.

The 69-year-old apologized and wiped away tears when he pleaded guilty last year. But the judge in Chicago stopped him and said he could explain himself fully at sentencing.

Defence attorneys argue for probation, pointing to Warner's unhappy childhood and his charity work.

But prosecutors say Warner should spend some time in prison; they don't recommend how much.

A government filing says about Warner's philanthropy: "Charity is not a get-out-jail card."

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX13865.07+98.40
S&P CDNX555.67+10.10
DJIA16643.01-11.76
Nasdaq4828.32+15.62
S&P 5001988.87+1.21
CDN Dollar0.75730.00
Gold1119.50-5.10
Oil45.26+2.70
Lumber237.20-9.70
Natural Gas2.719+0.055

 
Okanagan Companies
Pacific Safety0.165+0.005
Knighthawk0.010.00
QHR Technologies Inc1.29+0.05
Cantex0.04-0.01
Anavex Life Sciences1.34-0.05
Metalex Ventures0.055+0.000
Russel Metals21.41+0.43
Copper Mountain Mining0.64-0.01
Colorado Resources0.075-0.005
ReliaBrand Inc0.004-0.000
Sunrise Resources Ltd0.025+0.005
Mission Ready Services0.07+0.01
Decisive Dividend Corp2.75+0.14

 



27509

FEATURED Property
2350656623 Arbor View Drive
4 bedrooms 3 baths
$1,175,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Agree to ask questions

Photo: Thinkstock.comThe STORY: I think, said Janet to herself, that I just figured out a solution to my problem of letting the prospect run the meeting.With that thought in mind, she got out of her c...


Your business is not a bank

Photo: Thinkstock.comYour plumbing business is not a bank. But when you are giving terms to customers that exceed what you get from your suppliers, you become one. And every time that someone does not...


Begin with the end in mind

Photo: ContributedWe humans love our dates: birthdays, anniversaries, 9/11, the Ides of March - our lives are intimately woven within the tapestry of the calendar. So it should come as no surprise whe...

_



26509

27313


Member of BC Press Council