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.
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.
In a statement before his sentencing, Warner said that he felt "shame and embarrassment" for what he had done.
