Not only did lying cost him his job, it also significantly jeopardized his future. He had to start all over again as a job seeker. It was as though the time he worked at his former company had never existed. Since he was fired for lying, he certainly could not use his former company's name or anything he accomplished there. In addition, he would have to account for that time to prospective employers, so he had to think of a legitimate response.
Educational background is another area in which some job seekers falsify.
The most common ways they do this are to claim they graduated from a school more prestigious than that which they actually attended, or received a non-existent degree. Degrees are only important for first jobs or the first job after entry level. After that, what you have done is what counts. However, do not misrepresent your education, because it does no good and may often be harmful. As an example, we know of a job seeker who told an employer that he had graduated from a top business school.