1. Absolutely, but no one does that. Deny, deny, deny then obfuscate while claiming cooperation, shift blame and finally make an example out of someone while wailing how unfair it was to be made an example of. That's the order of the day.
2. Best case scenario, the NCAA is worried about a revolt by the Big 5 if they come down too hard and they accept OM's self-imposed penalties (won't happen).
Worst case scenario, well... last year I predicted a 2 year bowl ban with commiserate forfeiture of revenue, a loss of 5 scholarships a year for 4-5 years, reduced recruiting visits, probation, vacation of wins and permission for underclassmen to transfer out without penalty. That prediction was roundly ridiculed then, but now... not quite so far-fetched.