Cap’n Crunch, who holds himself out as a Captain, wears three stripes on his sleeve. However, in the United States Navy, three stripes signifies the rank of Commander, not Captain. Buzzfeed asks the questions we must consider.
In 2006, George W. Bush passed the Stolen Valor Act, which made it a crime to pretend that you earned a military award or medal. However, in 2012, the Surpreme Court overturned the Act with a vote of 6-3, on the basis that it violated the First Amendment.
A new version of the bill, the Stolen Valor Act of 2012, that focuses on people who profiteer off of fake medals passed easily through the House of Representatives, and is awaiting a vote by the Senate.
However, both bills related to false claims of earning medals, not false claims of rank.