Founder of Beanie Babies to Plead Guilty to Tax Evasion

Ty Warner, CEO of Ty Inc., which makes Beanie Babies, has agreed to plead guilty to tax evasion and pay $53.6 million in penalties in one of the largest offshore tax evasion cases in history.  He tried to enter the IRS's Offshore Voluntary Disclosure in 2009 but was rejected because he was already under investogation.

• DOJ Press Release
• Bloomberg
• Federal Tax Crimes
• Reuters
• Tax Update Blog
• USA Today
• Wall Street Journal