Bingo! I worked in the upper management team of an early stage startup where the CEO was lying through his teeth to investors as well as employees. There were only three people at the top level. He was a super charismatic guy and a great story teller. No one thought he was lying until it came time to raise the next round and the lead investor from seed round ran due diligence to find booked revenue was no where close to what CEO had been claiming.