Tycoon Richard Li Tzar-kai yesterday admitted his company had for years falsely described him as a Stanford University graduate when he had dropped out before finishing his course.
Speaking in Tokyo a day after Pacific Century CyberWorks pulled the erroneous statement from his online curriculum vitae - after media reports revealed it to be untrue - he described the claim as a mistake.
He was backed by his father, Li Ka-shing, who said at a press conference yesterday afternoon, his son was 'absolutely not a person who tells lies'.
Richard Li, 34, said: 'I didn't get the Stanford degree. After I finished my secondary education in the United States, I attended Stanford University for three years but I did not get the Stanford degree. I went to an investment bank to work. In all our documents submitted to the listed company, the stock exchange, I only said I received education there, I did not say graduation.'
PCCW has for years issued publicity material describing Mr Li as having 'graduated from Stanford University with a degree in computer engineering'. The claim has been repeated in publications around the world.
The company's spin-doctors are notorious for complaining about the way he and PCCW are described in news reports, but it appears that until now they have never attempted to correct the misstatement about Mr Li's education.