The way it works is that if a high leveled player ganks lower level players to many times, they will be turned into a fugitive.
Gank enough and you will lose items if you get killed yourself.
These changes are being implemented as a result of players that are tired of being ganked asked for them.
http://community.ageofconan.com/wsp/conan/frontend.cgi?func=publish.show&template=content&func_id=2535&table=CONTENT