From FTP Site Rules:
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Sportsmanlike conduct is expected of all users.
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I do not believe teaming up with other players in an individual based game is considered very "sportsmanlike".
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Soft playing or chip dumping is not allowed. Any unethical play may result in the suspension or termination of the offender's account.
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What is ethical, I suppose, being determined by FTP.
I think the
collusion credit thread has made it clear how FTP feels about colluders. It would be a very different thing if a site did not actively hunt down or even allowed colluders on a site.