The reason why he/she will be held liable is because of misrepresentation of facts. it is of the interest of the licensee to make sure that all the facts and documents represented in the details of license is understood before any other formalities.
If there is a misrepresentation from the part of the licensee, he will be held liable and on this note, the misrepresentation comes from the licensee without the owners knowledge is very very bad , that is why the licensee will be held liable.
Yellow Journalism is basically a type of journalism where it presents little to no well-sourced news, and instead uses catchy headlines to sell more newspapers. Aka, you can think of it as "fake news".
