If I remember rightly you can get the red sash by killing the male monk (named Ran'un) outside the guild in Freeport , FD to split the guild master. Give it a try, please grab me one too if he still drops it!
Check this link out for the strategy
http://www.monkly-business.net/forum...ead.php?t=8727
Kind regards
Sebekkha - 10 monk!