As far as I know it is not against the rules to exchange PED outside the game, it is just highly discouraged by MA.
I think that was just the excuse MA needed to ban him. ...there is no shortage of reasons why he had to be removed from the EU community ASAP.
I remember when Dreamland Stock Exchange did it (apparently) MA said it was ok so long as they footed the bill for anyone depo'ing via credit card, removing peds via DSE and then cancelling the original depo. DSE of course stopped removing peds from the game ;)