Sec. 24.05.10.11. False Statements

A. A person may not knowingly make or cause any false statement or report to be made:

(1) In any application or in any document furnished to the Authority;

(2) For the purpose of influencing the action of the Authority on an application for financial assistance or for the purpose of influencing any action of the Authority affecting financial assistance whether or not the assistance may have been already extended.

B. A person and that person's aiders and abettors who violate or attempt to violate any provision of §A of this regulation are guilty of a misdemeanor and on conviction are subject to:

(1) A fine not exceeding $50,000, or imprisonment not exceeding 5 years, or both; and

(2) Immediate acceleration of the equity participation financing.