Artful Dodgers: The Billionaires Who Cheated On Their Taxes

13 Oct

by Abram Brown

Who’s more powerful than a billionaire? The taxman, of course.

That almighty agent of the government added another scalp to his bag last week when Ty Warner, the Beanie Babies baron, plead guilty to tax evasion in a tearful moment inside a downtown Chicago courtroom. Warner, who hid as much as $107 million in an offshore account, agreed to pay $53 million in civil penalties. He now faces up to five years in jail, his sentencing expected to follow in January.

To be sure, Warner certainly wasn’t the first billionaire in this type of situation.

Full Story: http://www.forbes.com

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