I tried, didn't get banned but got sternly warned not to use the account anymore.

So i bought a new account on my own name, and levelled all over.

Previously tho i risked a ban with using a friends mage to boost my 4 new toons. But being in a high profile guild people hardly seemed to report me for some reason. Never had much trouble with it, but tbh i would not do it again myself. Way to big of a risk of getting 100's of days of work ruined.