It is an excellent, but not original story. We had stuff in place to protect us from such schemes back in the early days of UO. Hell, if I remember correctly, I even created a character to try and infiltrate another guild and then rob them.
"Happy slaves are the worst enemies of freedom." - Marie Von Ebner
"It was always the women, and above all the young ones, who were the most bigoted adherents of the Party, the swallowers of slogans, the amateur spies..." - Orwell
In the other MMOG I played, I was a spy. I developed a reputation as the best combat pilot in the game (OK, there were only about 150-250 players). The game had gotten to a point where there were 2 large teams, one of which was slightly more dominant than the other. I joined that larger team, and spied back to the other one. For the first time in several iterations (games lasted 30 days each), someone else won.
The corporation history in this game certainly makes such tactics a bit harder.
We're the good guys! We 'Vindicate' wrong doings and stuff. So, I'd say that we only kill people that are bad. Definately not random PKers of any target of opportunity.