Come on.. cut the kid a break. If you wanna punish him, take his profits, put it in some kind of trust fund or education fund for him and win some PR points while you're at it.
"Since shutting down whiteiPhone4now.com, Lam has been working on a startup, similarinterests.org, a social web application for connecting users with shared likes. “I’m very thankful,” he said of the money he made on the iPhones. “For months I was struggling for an idea that would bootstrap my first startup and help pay for college.”"