Beanie Baby Founder

September 19, 2013 by  

Beanie Baby Founder, Ty Warner, the Chicago-area entrepreneur who became a billionaire creating Beanie Babies stuffed plush toys, has been charged with felony tax evasion by federal authorities and has agreed to plead guilty and pay a $53.5 million penalty, federal officials and Warner’s attorney said in separate statements Wednesday.

Warner “was charged today with federal tax evasion for allegedly failing to report income he earned in a secret offshore account he held with UBS,” the financial services firm based in Switzerland, the U.S. attorney’s office in Chicago said.

Warner is scheduled to appear for arraignment and plea at 9:45 a.m. Oct. 2 before U.S. District Judge Charles Kocoras in the Dirksen United States Courthouse on Dearborn Street.

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