No, because it is doubtful that the surfactant (the soap) would come in contact with any fat to attach to. Soaps work because they have two ends to the molecule: A hydrophilic end and a hydrophobic end. The hydrophilic end keeps them in solution with water. The hydrophobic end attaches to organic molecules, such has hydrocarbons and fats.
Side effects? Well, you'll probably puke, but other than that, no.
Ryan