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Beanie Babies Creator Admits Tax Evasion

Will pay $53 mn penalty for FBAR failure

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(Bloomberg) H. Ty Warner, the creator of Beanie Babies plush toys, was charged with tax evasion for failing to report $3.2 million in income on a secret Swiss bank account that held as much as $93.6 million in assets, and will pay over $50 million in penalties for failing to file an FBAR.

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