(Bloomberg) H. Ty Warner, the billionaire creator of Beanie Babies plush toys, should go to prison for tax evasion, U.S. prosecutors told a federal judge.
Warner, who pleaded guilty to a single count of tax evasion in October, is scheduled to be sentenced by U.S. District Judge Charles Kocoras in Chicago on Jan. 14. He failed to pay almost $5.6 million in taxes on undeclared income hidden in Swiss bank accounts. Over 11 years ending in 2008, the balance reached $107 million.
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