"I'd just make sure that he understood that what he did was wrong (questionable; he's only 10)"
If the kid doesn't know it's wrong, he needs to be in special ed.
He probably doesn't know what the word "counterfeiting" means, let alone why it's bad.
as a parent of 11 and 9 (and 8) y.o. boys... they're not all that bright on a shockingly frequent number of occasions. especially when colluding in a pact.
the schemes they come up with and the detail i have to go into to explain why they are wrong can be amazing.
"If the kid doesn't know it's wrong, he needs to be in special ed."
Whaddaya mean? This kid is a perfect example of the amoral public school system. The ACLU bitches and whines whenever we say that morals should be taught in the schools and here is the product of their efforts: an amoral 10 year old kid. I hope the ACLU is proud.