I know nothing of anyone's history, but your view seems fairly ... naive. I don't mean that in any offensive way, and good for you if that is how you feel - more power to you
But if someone is proven as unscrupulous, and 'flaky' with his morales, then there is plenty of reason to be wary. As a server owner he could do many, many different things that would upset the balance or annoy/trivialise other players experience. There is a huge difference between earning money through profits from over-donations and actively 'scamming' people ingame or abusing a position of power to make money/'non-monetary profit'
I'm not saying he will, or even that he will have a chance to on this server - like I said I know nothing of his history, or server setup (infact this isn't entirely true, from what the other GM has said, it seems reassuring that he won't be abl to, at least openly without being caught)- but it doesn't mean the point isn't at least a valid concern. My opinion on him or the server isn't the point, nor do I even believe it's valid. I'm just saying about the "it doesn't matter if he was a scammer' attitude.