I am inclined to fall on William's side on this. I don't think his, well, lying caused any particular harm. But damn ...
There is a psychological term (which I cannot remember at the moment) for appropriating other peoples' adventures as one's own, and/or injecting oneself into stories/situations one only hears of or witnesses second hand, presumably for some sort of self-aggrandizement ... I have a friend - actually the husband of one of my wife's friends - who does this, particularly. It is harmless, mostly. He is a good guy, and a great story-teller. I just take everything he says with a grain of salt.
But if you are a network news anchor, that is probably not so good.