Beanie Babies first appeared in the mid-1990s, triggering a craze that generated hundreds of millions of dollars for Westmont, Ill.-based TY Inc., of which Warner is the sole owner.

The man behind Beanie Babies, the toy animals that saw their heyday in the mid-90s, has agreed to plead guilty to tax evasion for failing to report income held in Swiss bank accounts.

Creator of Beanie Babies Pleads Guilty to Tax Evasion. H. Ty Warner, 69, also apologized as he stood before a federal judge in Chicago, removing his designer tortoise-shell glasses and wiping away ...

CHICAGO - The man who created Beanie Babies has pleaded guilty to tax evasion. Billionaire H. Ty Warner broke down crying in federal court …

The founder of Beanie Babies agreed to plead guilty to a federal tax-evasion charge in connection with undeclared Swiss accounts and to pay $53.6 million in penalties.

Poor Beanie Baby Billionaire Breaks Down in Court. 3 Oct. This was reported by Becky Yerak and Jason Meisner in the Chicago Tribune online when a rapidly becoming infamous tax evader, non-expat who lives in Chicago pleaded guilty. Unfortunately, his "offshore" banking by Ty Warner, used in order to hide income highlights in the eyes of the ...

Beanie Babies Owner to Pay $53M Over Secret Account ... Warner has agreed to pay $53.5 million and plead guilty to tax-evasion charges, the …

Beanie Baby Creator Pleads Guilty to Swiss Bank Tax Dodge October 03, 2013, 1:51 p.m. EDT 3 Min Read

The IRS contended that Olenicoff was the sole owner of Olen and used Bahamas-domiciled Sovereign Bancorp Ltd. as an ... the creator of Beanie Babies, ... Olenicoff, who also got two years probation and community service, pleaded guilty to filing a false tax return, a felony. Warner pleaded guilty to the more serious charge of tax ...

The owner of the "Beanie Babies" stuffed toy maker will plead guilty to evading US taxes and pay $53m in civil fines, making him one of the more public figures to emerge from the US government ...

Warner, who pleaded guilty to tax evasion, must also pay a $100,000 fine ; Warner is the owner of TY Inc., the maker of Beanie Babies plush toys; Ty …

Sept. 18, 2013, 9:43 AM PDT. The creator of Beanie Babies stuffed animals has been charged with federal tax evasion for allegedly failing to report …

Earlier this year, Switzerland's oldest bank, Weglin & Co., pleaded guilty in New York to helping Americans hide $1.2 billion from the IRS. And just this month, Bank Frey & Co. became the second Swiss bank to close its doors as the United States increases pressure on foreign financial institutions for abetting tax evasion.

Beanie Babies creator Ty Warner has plead guilty to a single charge of tax evasion for not reporting more than $3.1 million in foreign income generated in a secret Swiss bank account. The Bank Secrecy Act requires U.S. citizens and residents, whether here legally or illegally, to report foreign accounts on Form TD F 90–22.1, Report of Foreign Bank and Financial Accounts (FBAR).

The billionaire creator of Beanie Babies, Ty Warner, was charged on Wednesday with tax evasion and agreed to plead guilty and pay a penalty of almost $53.6 million, according to prosecutors and ...

Beanie Babies creator pleads guilty to tax evasion Beanie Babies sit on the shelf of a variety store waiting for a new owner in this Sept. 1, 1999, file photo. JOYCE NALTCHAYAN / …

The creator of the hugely-successful Beanie Babies toys pleads guilty to failing to pay taxes. ... Beanie Babies creator Ty Warner pleads guilty to tax evasion. October 2, 2013, 1:00 PM. ... leaving local business owners in shock. 20h ago. People.

Oct. 2, 2013 -- A tearful and apologetic H. Ty Warner, creator of Beanie Babies, pled guilty today to federal tax evasion stemming from what …

Beanie Baby founder H. Ty Warner intends to plead guilty to tax evasion and pay a $53 million penalty for failing to report income from an offshore bank account. But …

Beanie Baby Founder Ty Warner Pleads Guilty to Tax Evasion. Ty Warner made billions of dollars off of Beanie Babies in the 90's and early 2000's, but he neglected to pay proper taxes for the money that he earned. This week he pleaded guilty in court to tax eva

Beanie Baby Founder To Plead Guilty To Tax Evasion September 18, 2013 at 10:55 am Filed Under: Beanie Babies, guilty plea, Tax Evasion, Tax Fraud, Ty Warner

Beanie Baby founder and billionaire Ty Warner has agreed to plead guilty to a felony tax evasion charge in Chicago federal court and pay a $53.5 million penalty, officials announced Wednesday. The Chicago Tribune reported that Warner will formally enter the plea in front of U.S. District Judge Charles Kocoras on Oct. 2.

The billionaire who created Beanie Babies pleaded guilty Wednesday to tax evasion charges. "I apologize for my conduct," H. Ty Warner told a federal judge. "This is a terrible way to meet ...

CHICAGO — The billionaire who created Beanie Babies broke down crying in court Wednesday as he pleaded guilty to one count of tax evasion for hiding $25 million in …

Beanie Babies creator pleads guilty to tax evasion, to pay US$53.6-million fine . H. Ty Warner, creator of Beanie Babies plush toys, pleaded guilty to failing to pay taxes on money he hid from the U.S. in a Swiss bank account

Suburban Chicago businessman Ty Warner, a college dropout who became a billionaire after creating Beanie Babies collectibles, pleaded guilty Wednesday to …

The creator of Beanie Babies is set to plead guilty to tax evasion after hiding millions of dollars in a secret Swiss bank account, the Justice Department announced Wednesday. Ty Warner is the ...

Ty Warner, Beanie Baby creator, pictured in 2003, will plead guilty to federal tax fraud and pay a penalty of more than $53 million. (LOUIS LANZANO/AP)

Warner will plead guilty to a single count of tax evasion and will resolve all issues of taxes owed. Plus, as part of his plea agreement, he will pay a more than $53 million FBAR penalty. Mr ...

H. Ty Warner, owner of the Westmont company that designs and sells the plush toys, plans to plead guilty to federal tax evasion and will pay a $53.5 million civil penalty, his lawyer said.

Warner, 69, of west suburban Oak Brook and the Santa Barbara, Calif., area, the sole owner of TY Inc., a Westmont-based company that designs and sells plush toy animals including Beanie Babies, as well as other business interests, was charged with, and pleaded guilty to, a single count of tax evasion last fall.