Beanie Babies Creator Ty Warner Charged With Tax Evasion. Owes Over $50 Mill in Back Taxes 

Remember those tiny little Beanie Babies that you could get in your Happy Meal from McDonalds? Well the "Beanie Babies" creator Ty Warner is in hot water. Warner just got served with a $53.5 million penalty for tax evasion. Warner, worth $2.3 million is being charged with federal tax evasion after he failed to report income he earned in an offshore Swiss back account in 2002 worth $3 million. Warner plead guilty to teh charge and is looking to pay the fine asap in hopes that the judge will be lenient with his verdict.

Warner is looking at a maximum sentence of 5 years in prison if he doesn't pay what is owed. Warner's lawyer said Warner accepts full responsibilty for his actions, but who else could he popssibly blame for not paying his taxes? His lawyer released the following statement, "an unfortunate situation that Mr. Warner has been trying to resolve for several years now." 

stay tuned for more news and updates as the story builds.