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IF he did....
He wouldn't have to fess up. It'd become public no matter what conspiracy was going on because of financial and trade reasons. WWE is a publically traded company and any of Vinces exploits would have to be known to the financial community and insiders and would quickly reach the IWC and public.
As for him wanting to admit it, I don't know if he'd want to but he'd have to, and eventually he'd cash in on it with an Invasion angle. In that scenario, he'd probably prefer to say he bought or extinguished the company and then repackage it and bury it on WWE programming.
However what he'd want to do would be irrelevant since he wouldn't have the option of pulling off such a lie with the inevitable outing of such a ruse.
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