1. H. Ty Warner, the billionaire creator of Beanie Babies, has been sentenced to two years of probation, but no jail time after he plead guilty to a single count of tax evasion, according to the Associated Press.
A man walks past a display for Ty Beanie Babies products at Toy Fair 2013.
2. Warner could have faced five years in prison after not paying taxes on $25 million in income he had put in Swiss bank accounts. The case is part of the federal government’s push to prosecute those concealing their income overseas.
Ty Warner is escorted from the Dirksen U.S. Courthouse in Chicago on Oct. 2, 2013.