Monday, September 22nd17.6°C
23284

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

23480


Recent Trending




Today's Market
S&P TSX15129.00-136.35
S&P CDNX928.09-26.97
DJIA17172.68-107.06
Nasdaq4527.689-52.10
S&P 5001994.29-16.11
CDN Dollar0.9060+0.0003
Gold1215.90-2.00
Oil91.50-0.91
Lumber325.40-1.20
Natural Gas3.91+0.007

 
Okanagan Companies
Pacific Safety0.17+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.27-0.10
Cantex0.04-0.01
Anavex Life Sciences0.2195-0.0035
Metalex Ventures0.05-0.01
Russel Metals35.37-0.38
Copper Mountain Mining2.40-0.26
Colorado Resources0.16-0.005
ReliaBrand Inc0.0206-0.0043
Sunrise Resources Ltd0.02-0.005
Mission Ready Services0.27-0.02

 



23392

FEATURED Property
20144342 Bedroom Condo with Lock Out Studio At Big White Ski Resort
$199,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Is this a fair offer from ICBC?

“Is this a fair offer from ICBC?”…. “How much should I settle for?”… “What is my claim worth?” These are just some of the questions I regularly get as...


Disruptive innovation

Last night I was privileged to be able to speak at the Greater Westside Board of Trade business awards dinner. Photo: ContributedI talked about Innovation and Collaboration which are two very interes...


Executors and their duties

There will be a time when you will need to decide who you should appoint as executor of your Will. As well, there may be a time when you will be asked by someone to act as the executor of his or her W...

_








Member of BC Press Council


22755