Ok first make an account on a private server and get to level 70
Then Find a Teleport/Fly Hack that will allow you to get to GM island (many available)
NEXT... Spam /trade or whisper random people stating that you are a GM and you are selling donation items at half price for today only..
If they dont believe you are a GM.. tell them to look at your location (GM island).. also certain macros help for instant reply
Give them your paypal address and tell them that the donation item of their choice will be sent out ASAP upon reciept of payment
and VUALA!! Free Money
ALSO... you can try telling them that for a one time payment of $50 (or more) their account will be promoted to GM status for today only..
IT WORKS! I DID IT
You have to be very professional, and dont ask for too much to avoid suspision
YOU MUST BE ON GM ISLAND TO DO THIS SCAM... People get very leary of people that are saying they are GMs.. but if they see you on GM island, most noobs wont think twice
ALSO it does help to do this at night (or day depending on your server location) as on most private servers there is less GMs about at certain times-- this will reduce your chances of gettin caught on GM island
HOPE THIS HELPS...