No, but if it was a helicopter it's very unlikely to have been flying on GPS. Either an R/C heli out of any control at all, or perhaps just a heli flyer being stupid.
If it was a multirotor, it's more likely to have been a nutter off the street being stupid...
Like I said, the actual type of vehicle is important, and I would have thought the airprox board would have been more careful with their choice of words...
Flying either manually at 700' would be extremely difficult, and impossible to judge if the vehicle was anywhere near (in height) to an airliner.