They're being very decietful in the first paragraph, but the second paragraph does contain outright lies:
We do not automatically disfellowship someone who commits a serious sin. If, however, a baptized Witness makes a practice of breaking the Bible’s moral code and does not repent, he or she will be shunned or disfellowshipped. The Bible clearly states: “ Remove the wicked man from among yourselves. ”
Where in the "Bible's moral code" does it say that one must believe that the GB of Jehovah's Witnesses is the modern day FDS? Nowhere. But if you say that openly, you'll be DF'd. Smoking? DF'd.
The funny part is, that the sentence actually contains two lies. The most obvious being that you can get DF'd without breaking the bible's moral code, but the less obvious lie is in the way that it states, in no uncertain terms, that unrepentant sinners "will be shunned." While I feel pretty certain that child molestation is against the bible's moral code (certainly more so than smoking) there've been countless cases in which the perpetrator wasn't shunned/DF'd. What's more is that in some cases, the victim is shunned. This lie is possibly more insidious than the first, because it creates a false sense of security within the organization.
There's also more deciet in there, in that they strongly imply that you will not be DF'd if you're repentant. I know of a few cases personally, and read of a number on this forum that demonstrate that this, too, is not the case at all.