I don't see how that analogy applies here. It would be more like if someone who had access to the shared bank account was using their own personal bank account for money laundering.
The developer wasn't breaking ToS on the company account, it was their own personal developer account. Quote from the reddit post:
> Our company used to have several employees with access to the business's Play Console, and one of them recently had done something wrong with "his own personal" Google Play Developer account.