Should any person be found guilty of knowingly and willfully making or causing to be made any false statement or report or otherwise violating the requirements of §§49-50-1404 and49-50-1405, that person shall forfeit all pay and compensation for the position held for a period not to exceed one (1) year, be subject to dismissal, removal or ouster from the office or position and be ineligible for election or appointment for the same or a similar position for five (5) years.