I may have misinterpreted the explanation given in the post. It sounded to me like a developer they'd employed violated the TOS on their personal Google dev account. Google then recognised a connection between the dev and another Google account belonging to a company and opted to suspend that as well.

To use your example, that would be like an employee getting their bank account frozen for something they'd done in their personal life, and then the company having their bank frozen too for depositing money into the employee's account.