I am not Andrew, however, recent punishments show that the answer to this question is yes.
It is a shame that many of our friends that are contributing members in good standing have lost tens of thousands of dollars just because they may have been gone for a few days. @chargers2417 had this happen to him.
@Zedoker - I have reported about 50 chests being looted myself. It was not for shady reasons like you might think or accuse me of. It started with my own chests being stolen from - just because I had not touched the locks for over 6 months does not mean that my items should be stolen from me. I started checking my towns and my friends towns and found so much stealing going on, I felt it had to be reported. It is not like it was hard to find everyone who had been looting - it is everywhere.
A fair warning to everyone (especially those convicted of stealing and will be back on before the looting day) I will continue to check chests of my friends and neighbors and anywhere else I decide to look around - and will be reporting any stealing going on - so simply follow the rules and wait until the 19th.
I am no angel either.

 

Yeah, people who steal are butts