(Simeon Warner): There isn't a mechanism to stop creation of an ORCID iD for a fake identity. However, there is a dispute resolution process (see <http://orcid.org/orcid-dispute-procedures>) to deal with cases of misuse. I note that this is the same situation as the current publication world where articles and books are published under alternate identities which may or may not be readily connected to the real person. A key benefit of ORCID in even these situations is re-use of the identity for multiple works, grants, etc. and connections to other systems that might validate or explain that identity.
(BTW, my favorite example a fake identity is "John Rainwater" who never existed but has a fine publication record in mathematics. John's publications were actually written by a number of different people (see <https://en.wikipedia.org/wiki/John_Rainwater>). I note that John is well described in VIAF <http://viaf.org/processed/LC%7Cno2002106847> based on the LC record <http://id.loc.gov/authorities/names/no2002106847>.)