Beanie Baby Maker Ty Warner Avoids Jail in Tax Case

H. Ty Warner, the billionaire creator of Beanie Babies plush toys, avoided a prison sentence for hiding income from U.S. tax collectors in a Swiss bank account.

Warner was sentenced today to two years of probation for tax evasion by U.S. District Judge Charles Kocoras in Chicago. He must also perform a total of 500 hours of community service for three area schools, the judge said.