Wednesday, October 1st14.1°C
22738
22642

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

20759


Recent Trending




Today's Market
S&P TSX14805.44-155.069
S&P CDNX896.35-12.94
DJIA16804.71-238.19
Nasdaq4422.085-71.305
S&P 5001946.16-26.13
CDN Dollar0.9017+0.0061
Gold1219.80+4.30
Oil89.14+0.03
Lumber344.10+6.30
Natural Gas4.031+0.008

 
Okanagan Companies
Pacific Safety0.135+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.22-0.04
Cantex0.075+0.01
Anavex Life Sciences0.1804-0.0036
Metalex Ventures0.0550.00
Russel Metals34.68+0.11
Copper Mountain Mining2.29-0.13
Colorado Resources0.16-0.005
ReliaBrand Inc0.019-0.001
Sunrise Resources Ltd0.065+0.045
Mission Ready Services0.31-0.01

 



23607

FEATURED Property
17979007210 Brent Road, Peachland, BC
5 bedrooms 4 baths
$1,079,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Power-save your way to a down payment

Part 2 of 2 to read Part 1, click here. 5. Dial down your vacations. New York is out. Maybe Buffalo. For West coast, maybe Seattle instead of Hawaii. Use sites like Airbnb (aribnb.ca) to find ch...


A wildly successful manufacturer

Niche food producer “Sweets from the Earth” thrives using innovation, uniqueness and an unwavering focus on quality. A neighbour’s stew turned Ilana Kadonoff off meat at the age of s...


Finding the smart money

Recently I had the privilege of working alongside André Voskuil, a local guru in the world of Alternative Financing. André has quite the reputation in the world of direct investments as ...

_








Member of BC Press Council


23504