I used to be quite friendly with an old boy who worked at the CAA and asked this very question.
Apparently, and let this be a warning to those contemplating it, the people who go through log books at the Belgrano are quite good at spotting bogus entries. A quick phone call to the airport or aircraft operator is all that's required to verify any suspicions.
Most of this was targeted at the so-called 'flying from home' brigade, principally people hours building for commercial licences.
Obviously if your logbook never needs submitting, they are less likely to catch up with you.
Don't do it. Just not worth it.
S