A lie is a lie. Unless you are doing it to prevent an even worse problem or to protect someone from a first strike offensive act from someone else, it is wrong to lie (and, preventing an even worse problem does not mean lying to get out of deserved trouble for a problem you already created).
It is bad to lie to misrepresent the organization. You are inflating the value of your "experience" by embellishing things. If you leave out the part where the study was discontinued or that you became destitute or very sick because of your "experience", you are inflating the value of the organization by leaving out the cost. This is every bit as bad as your broker lying about Treasury bonds being the safest investment when China is poised to dump trillions of them on the open market. It is as bad as being told that the stock market is about to explode to the up side 4 weeks before the broker knows a huge stock market crash is coming.
But, at least with a broker lying about your investments, it is only money (and hopefully money you can afford to lose). When it is the Washtowel Slaveholdery, they are lying to get you to invest your whole life. More people can afford to take a bath with "risk capital" (that is, money they can afford to lose) than they can to take a bath with their lives. Most of those people that invest their lives in the Washtowel on this "advice" are going to end up destitute, stagnant, with very few meaningful good experiences, very shallow (confined to whatever is in the rags or what they did in field circus) personalities, and having loveless (or no) marriages. Children will refuse to go to college even with fully paid scholarships (and, with a paid scholarship, they should go whether or not tuition is in a bubble). Which to me is the ultimate bath to take.