As far as letting someone work under your license and insurance, that's a bad idea.
Not only could you end up losing your license, you might end up with even bigger problems.
To paraphrase a quote from a guy I used to work for: "If you're going to do something illegal, unethical or questionable to make money, make sure that it's enough to make it worthwhile once when you figure in the fines and the jail time. There's no sense in finding out that the last 3 years of your life you netted out at minimum wage."
