Will Google punish my site in this way ?

[Jake]

Generally they will not penalize site B for site A's offenses, although I would not be surprised if they would look into other properties with the same owner.

The concealing of a common owner with different C code IPs and whois information was most commonly done to earn some backlink benefit from a one way link between the sites. There are so many other backlink sources in these web 2.0 days that the expense of hiding their common ownership is just not worth it.

Since the Panda & Penguin introduction some paranoid operators have stopped signing up their sites to Analytics and webmaster Tools to limit Google's access to the site code.

Of course a common adsense account is another way they would connect 2 sites.