Beanie Babies creator spared prison for evasion

Beanie Babies creator Ty Warner did not receive a jail sentence for evading millions of dollars worth of tax from US authorities in a Swiss bank account. 

The tycoon could have faced up to five years in prison, but a Chicago federal court handed him a sentence of two years probation and 500 hours community service. 

Warner pleaded guilty to a single count of tax evasion and said he felt "shame and embarrassment"...

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stepurhan's picture

Isolated incident    2 thanks

stepurhan | | Permalink

The man is having to file amended returns for 1999 to 2008, but his lawyers claim it is an "isolated event"? Was it an extremely long isolated event? I suppose if he evaded taxes continually for that whole period, that could count as one "event". Possibly mentioning the length of the "event" would make it sound less mitigating though.