he was having financial problems. I helped negotiate a better lease rate for him. I helped him put together a budget. We advanced him some pay to help him get out of perpetual pay day loans.

I offered to keep helping him to ensure he stays on top of things.

He turned around and kept stealing and we had to fire him.

Not everyone, but some people need to hit bottom to change.

Not sure about this guy. Tough call. I like your suggestion to suspend with no pay and give a stern warning as if he did something much more serious. If he thinks it isn’t a big deal then OP may not be doing him any favors.