I've heard similar stories to that which Dan K mentioned. Also of an individual that got cleared to line only to find himself unemployed a couple of years later, once found out. Perhaps stuff of legend, but more likely truth....
One thing's for sure. Forget any support from the union (if you are a member), and any sympathy from your colleagues who did not use deception in their application.
Minimum experience/aviation qualification requirements are there for 2 reasons. Primarily to cover legalities and insurance as well as a benchmark that employers set to facilitate candidates completing training within the guidelines contained within their syllabus.
It's not too hard to pick gross exaggeration on flying experience in the sim ride. I've nailed a few in my time....