Ok, so here's what you'll need:
1. 2 people or at least 2 seperate accounts on 2 seperate computers.
2. a high-ish level on each account (but on the same realm), preferabbly 30 or higher, the higher the better.
3. Not a bad rep
4. (strongly recommended) a way to communicate outside of WoW (phone, vent, AIM, etc)
The people in this scam will be called A and B.
A advertises in trade channel a lottery with X amount entering fee, with the winner getting 90% of the gold entered.
B pretends to recognize the character from another realm and says that he's legit. B buys into the lottery.
A collects fund from everyone and promises to announce the winner by some time.
A announces B as the winner and tells everybody that.
B acts all excited
A and B enjoy their new money
It's very important that you have most of your conversation on the trade channel. Also GM's can see you whispers, which is why you need some non-Wow form of communication. A might want to send the money to B to keep from arrousing Blizz's suspicions.
It's simple to do and involves very little risk. I've made a good amount with this, but my partner recently quit Wow, so if anybody would like to do this scam with me, send me a PM