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Tell him to reverse the chargeback on the flagged purchase while he waits for a response.
Oh, and because most people only see "nine weeks": that's the time frame you have to resolve the problem. Failure to do so will result in the restrictions being permanent. As in "forever".
Never trade with compromised accounts. You do not know who's on the other end.
An account lock prevents anything except playing existing games.
Also be sure that your friend's account is NOT connected in any way to yours with a phone auth number.
Get better “friends”
Him making new account isn't going to solve his issue. If your friend ignore the issue, if related to doing charge back, then after 90 days his account will be restricted forever period, if he doesn't pay back the money that was due.