Need help about trading with a Scammer.

This guy: http://steamrep.com/?id=76561198046510660 offered me a Strange Gunslinger for my Haunted Ghost Pugilist's Protector. I checked his steamrep and found out that he has a Scammer tag.
What are the possible penalties I would get if I traded with him?
Help me!

From the FAQ

What are the penalties for trading or buying from SCAMMERs or obvious scammer alts?
If you knowingly trade with scammers or obvious scammer alt accounts (with extremely low hours), you are putting your reputation at risk. SteamRep's policy is to be understanding when an innocent trader makes a mistake or when the monetary value is relatively low. Yet, we cannot encourage scammers to profit from their theft.

• New traders: New traders who are unaware of SteamRep will not receive penalties to their reputations, but will receive a one-time warning.
• First offense:
  • Item/Game trades: You will receive a one-time warning for any high-value item or game trade with a SCAMMER or an obvious scammer alternate account. (This warning will be a temporary CAUTION tag that will be removed when you contact SteamRep admins.)
  • Cash trades: You will receive a CAUTION reputation tag for buying high-value items from a marked scammer or obvious alternate scammer acount. Helping scammers profit is not something we can encourage.
• Second offense:
  • You were already warned: You will receive a CAUTION reputation tag.
  • You already have a CAUTION tag: You will receive a SCAMMER reputation tag.
• Third offense: You will receive a SCAMMER reputation tag.

Important Notes:

• Anyone has the right to one appeal. You should appeal if you feel the evidence is incorrect or you feel the penalty is too harsh.
• Ultimately, if it's very clear you were purposely trying to profit from scammed or stolen items, you deserve a SCAMMER tag at admin discretion.
• Even if you disagree with someone else's SCAMMER reputation tag, trading with them is still considered "Trading with a Scammer". Just because you trust them not to scam you, it doesn't mean they aren't selling stolen merchandise they took from someone else.

So If I traded with him, I would get a one-time warning mentioned in the First Offense part or a Scammer tag for "Trading with a Scammer"?
That confuses me

well you were just warned above... I don't suggest trading with him. You could get a caution.

Read again, and note the "Innocent trader" reference, also note the "unaware of SteamRep", by virtue of your post, you are neither. Trading with this tagged player would not be wise

Trade with him now and odds are you'll be marked on the spot since you pointed out that you know he's a scammer.

Thanks guys, I'll keep that in mind

Am I the only one thinking this answer is obvious? ... you know he is a scammer and you wonder if you would then be a partner of his scam.

Well I knew a guy used to go to his local Catholic Church and confess to sins before he committed then, I guess absolution before the fact is quite appealing