I'm confident Google doesn't have any rules against this practice; after all, if they serve legitimate ads on legitimate sites and don't do any fraud, Google still earns money themselves off of the ads.
edit: another commenter pointed out they got a letter and a disabled account due to click fraud already.
A check with enough info for G to probably figure out which advertiser it is? Or maybe they have some pool of accounts?
Edit: Ahh, nevermind. They mention a pool of accounts, some already disabled: http://www.gwei.org/pages/google/google_letter.html