I find it fascinating that I've read through the thread up to now, with so many people indicating that this isn't on Sony, and that the blame lies partially with EB for not testing, and not a single person has suggested that the console may not in fact have been banned at the time they bought it.
One of the reasons a console ban is a bad idea in this situation, is that it can easily be premeditated. Someone can decide to get rid of their PS4, realise that they've recently made a few hundred dollars of digital purchases they can't sell, and so issue a charge back AFTER selling the console. EB is screwed, next buyer is screwed, and the fraudulent original owner is in the clear.
Accounts issuing fraudulent chargebacks should certainly be banned, but I don't agree that banning the console is worth the potential side effects. It's really not much of a deterrent.