(1) It is an offense for any person to knowingly: Make a material false statement in any application to the corporation for a license or proposal to conduct lottery activities; or
(2) Make a material false entry in any book or record which is compiled for the corporation, maintained for the corporation, or submitted to the corporation.
(3) A violation of this section is a Class D felony; provided, however, that the maximum fine shall be twenty-five thousand dollars ($25,000) or the dollar amount of the false entry or statement, whichever is greater.