Beanie Babies billionaire behind bars?
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."
Comments on this story are pre-moderated. Before they appear, comments are reviewed by moderators to ensure they meet our submission guidelines. Keep it clean, keep it civil, keep it truthful, stay on topic and be responsible. Comments are open and welcome for three days after the story is published. We reserve the right to close comments before then. Comments that appear on the site are not the opinion of Castanet, but only of the comment writer.
Read more Business News
- Superboat chaseKelowna - 3:56 pm
- Charges laid in Amanda Todd caseBC - 6:59 pm
- Needle used in robberyKamloops - 3:06 pm
- Kelowna man pleads guiltyKelowna - 2:02 pm
|QHR Technologies Inc||1.29||+0.07|
|Anavex Life Sciences||0.375||0.00|
|Copper Mountain Mining||2.35||-0.07|
|Sunrise Resources Ltd||0.025||-0.005|
|Mission Ready Services||0.25||+0.02|
How much time should you put into prospecting? The question is a bit of a puzzle. Ideally, there would be a reference book that lists, by industry, how much time you should invest in prospecting acti...
The Big Picture Valuation fears grip markets Growing concerns about the level of stock market valuations sparked a risk-off trade in global markets this week. Investors are worried that many companies...
Photo: ContributedFor many businesses this has been a tremendously difficult time since the 2008 crisis. Business fell off. Sales techniques that always worked, well… stopped working. Customers...