29-7-2023 (HONG KONG) Hong Kong businessman Calvin Lo, who previously claimed to be a billionaire, has been unmasked as a fraud by Forbes magazine. The outlet discredited his outlandish claims of wealth and success in a damning exposé. But there’s more to the story than Lo’s bogus claims. He is also romantically involved with retired actress Shirley Cheung, who is 48 years old. The couple was seen together at Donnie Yen and Cissy Wang’s 20th wedding anniversary celebration in Italy, which was attended by several celebrities.
Forbes’ article extensively debunked Lo’s claims of owning the W Hotel in Taipei, acquiring an F1 racing team, and having a Harvard degree. Despite being exposed as a fake billionaire, Lo has not been shy about publicly dating Cheung, and the two have been seen together at several events. They were inseparable at Donnie Yen and Wang’s wedding and were spotted holding hands and getting cozy.
Cheung confirmed the relationship and revealed that they met during the pandemic through mutual friends as they are both in business. She praised Lo for being a caring father to his daughter and described him as a perfect “filial son”. Cheung defended her boyfriend against the negative coverage, blaming it on Lo’s U.K. PR team. She claimed that reporters unfairly wrote bad things about him.
When asked about Lo’s billionaire claims, Cheung did not address whether they were factual. She stated that the exact amount didn’t matter and suggested that the lower his net worth, the better. Cheung also noted that she has never publicly disclosed her own net worth in over 20 years.
Cheung, who has long exited the entertainment industry for business, is said to be worth over HK$300 million herself. She is the chairman of Sau San Tong Holdings Limited (8200.HK), an investment holding company that distributes and sells cosmetic and skin care products in Hong Kong and China. Cheung revealed that she had reached out to Forbes over their exposé on Lo to express her displeasure. However, they replied that Lo had been unfriendly to the media and his U.K. PR team performed poorly, offering apologies.
When asked why she didn’t proactively announce their relationship status, Cheung said she preferred to keep her love life private and did not want other innocent women dragged into the issue.
Despite being exposed for inflating his riches and achievements, Lo continues to gain acceptance and support from girlfriend Cheung. She appears unfazed by the strong evidence rebutting his claims and remains loyal. It remains to be seen whether Lo’s web of lies and exaggerations will eventually put the brakes on their high-flying romance.
