Yes. This is exactly what the “limited liability” in LLC means. You are not personally liable, only the business is. There are nuances to this, obviously fraud

Yes. This is exactly what the “limited liability” in LLC means. You are not personally liable, only the business is. There are nuances to this, obviously fraud is fraud, regardless of using a shell company to perpetrate it, and a new business is unlikely to get a credit limit large enough to be a worthwhile avenue for fraud.