Fair point, especially with the ATF on their paperwork terror campaign. Could be totally legit and legal, but if they pull the license, the punishment is the process of getting that decision vacated.Maybe. But what you originally posted isn't accurate as far as the first question goes. It's OK if you're just the transferee.
But some FFLs will get a little squirrely if something seems off to them. Especially the once bitten kind of FFL.