Chip Wilson, the billionaire who founded Lululemon Athletica Inc., said in an interview he was dishonest with the US Securities and Exchange Commission, although he later backtracked through his representatives.

Asked on an episode of The Businessweek Show airing tonight if he could remember the last time he was dishonest, he said he could: “And it actually makes me quite sick. I was being interviewed by the SEC, and I think I had to say what wasn’t true,” he said. “How can I say this? If I would’ve said what was true, then I would’ve spent three or four years in court.”