Ty Warner, owner of Westmont-based Ty Inc., to plead guilty, pay $53.5 million penalty for tax evasion
WESTMONT – Ty Warner, the creator of Beanie Babies and sole-owner of Westmont-based Ty Inc., will plead guilty to tax evasion and pay a $53.5 million civil penalty for allegedly failing to report income he earned in a secret offshore financial account with Swiss Bank UBS, his attorney said Wednesday.
Warner, 69, of Oak Brook, was charged Wednesday morning in U.S. District Court.
“This is an unfortunate situation that Mr. Warner has been trying to resolve for several years now – including through an attempt to enroll in the IRS’s Offshore Voluntary Disclosure Program in 2009,” Warner’s attorney Gregory Scandaglia said in a statement. “Mr. Warner accepts full responsibility for his actions with this plea agreement.”
If you have any technical difficulties, either with your username and password or with the payment options, please contact us by e-mail at firstname.lastname@example.org