I tossed my 16 year old out of the house?

It's a long story but here's the "Reader's Digest" version... I divorced 11 years ago... messy... we have joint custody but the ex had primary residence, I saw (and still see) the kids (4) often... I remarried 5 years ago... kids like my wife... 4 years ago ex diagnosed bi-polar... she's also an alcoholic and booze doesn't work with the meds... went to court and had the primary residence changed to me due to neglect (no food in the house, no lunches for school, no direction or discipline/rules/supervision etc.). At the time the kids were 10, 13, 16, 18. The problem child I have with me is the second youngest: now 16 1/2. Over the last 6 months he has deposited empty envelopes in the ATM and withdrawn money, stolen from all of us in the house and most recently a new pair of $100 runners from one of his older step brothers (denied it and still no sign of them). Last week we got a call from the bank that he had deposited some stolen cheques and was back to get the money out... his friend stole them from his parents and got my son involved to commit the fraud... we have called the police on him umpteen times and it isn't sinking in. He always has an excuse why he can't find a part time job. We are very non-confrontational and this is a non-violent house as it isn't tolerated on any level. We have basic rules that are common sense and not remotely tough by anyone's standards. This isn't a bad place to live as long as you respect other people's things, their space, their feelings and go to school/work and put in the effort to succeed. He has been lucky to date NOT to get arrested and charged... in the latest case the other parent didn't want to press charges and the bank didn't get the originals back (as yet) as evidence of fraud so THEY could charge him... we'll see if they materialize over the next little bit. A month ago (for 4/20) he tried to organize a park party in a town-owned park with booze and dope (BYO) and used facebook and his cell phone for RSVPs... I took the computer and the cell phone. He skips class, got nailed for smoking dope on school property and got a 3-day in-school suspension and he's failing 3 of 4 subjects this semester. I don't think he's an addict, I don't think he's a boozer... I think he's just one of those trying to get something for nothing and find ways to beat the system. We have SHOWN him (with real-life actions) that this is not the way to live and it won't work but he just falls back after 3 weeks. He shows little remorse in any form and almost seems textbook sociopathic. He has not been diagnosed or labelled with any "disorder" and I reject the idea of that whole line of 'defense'. I set him up with counselling at the school with a youth worker. He is just a victim and product of his youth and we have tried for the last 4 years to show him what life really is as opposed to what he had as a life before he came to live here. I am at wits-end and tossed him out last Monday at the recommendation of (of all people) a police officer who had lived a similar childhood with a sibling; who straightened out following the "toss out". Counseling is out for this one as he just says what you want to hear... even to the counselors... he did the therapist thing for a while after his mother and I split as he was identified as suffering from "separation anxiety"... apparently it did no good as he seems to have "separated from society" in my opinion. He called this morning to see if I would let him come home... he offered no apology, no plan, no ideas of preventing this sort of thing in the future... nothing. When I said "no not now" he just said "ok" and hung up. Am I missing something here? I am a reasonably well educated person but... I was brought up in a very strict house and it didn't hurt me at all. I am in no way nearly as strict as I was brought up but in today's world, the kids have more, are exposed to more and want more than we ever did. Not a bad thing for them but ya gotta work for it somehow. Anyone have any constructive ideas or comments?