Sentence for Beanie Babies creator upheld
CHICAGO - A federal appeals court upheld the probation sentence Friday for the billionaire creator of Beanie Babies, rejecting arguments by federal prosecutors that he deserved prison time for hiding millions of dollars in a Swiss bank account. H. Ty Warner was accused of evading $5.6 million in U.S. taxes by concealing assets. He later pleaded guilty, made full restitution and paid a nearly $54 million civil penalty. But when the trial judge sentenced him to two years' probation, prosecutors - who wanted Warner sentenced to at least a year in prison - took the rare move of appealing the sentence. They argued that the toy maker got off too easy given the lengths to which he went to conceal his crime. In its Friday ruling, the 7th U.S. Circuit Court of Appeals said the district court did not abuse its considerable discretion with the sentence.