Billion-dollar 'time bomb' in Hong Kong

Discussion in 'General Distance Learning Discussions' started by John Bear, Apr 4, 2001.

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  1. John Bear

    John Bear Senior Member

    The International Herald Tribune has 'outed' a young multi-billionaire Hong Kong businessman, often called 'the Bill Gates of Asia,' for falsely claiming to have a degree from Stanford University.

    On March 23, the South China Morning Post, Hong Kong's major paper, had a major article headlined Richard Li admits Stanford degree claims a mistake

    It began: 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.


    The article goes on to quote leading financial analysts, saying how this kind of thing damages Hong Kong's financial image at the worst possible time. (Shares in Li's company plunged from $28 to under $4 in the past two months, down 4% the day that Li was 'outed.'

    Related news: there should be an article on the diploma mills of Asia in the Post on Friday the 6th.

    John Bear
     

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