Incorrect.
From: http://www.thefitshack.com/2007/03/15/what-is-hfcs-and-why-is-it-so-bad-for-my-body/
Both sucrose and dextrose are broken down in our body before they ever make it to our liver, however fructose does not breakdown and reaches the liver “almost completely intact”. This feature of fructose (which in HFCS is of an even higher concentration) has been named “metabolic shunting” since the fructose is “shunted” or sidetracked towards the liver.
Fructose is used to build triglycerides in the liver, which it does by imitating insulin, causing the liver to release fatty acids into the bloodstream. The flood of fatty acids then causes muscle tissue to develop insulin resistance.
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It has been found that our metabolism veers towards fat storage when consuming high levels of fructose. Therefore, HFCS contributes to obesity not only by the fact that our brains don’t know that our stomachs are full, but also by causing the body to burn sugar rather than fat in our cells.