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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.

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