what's the name of a movie that talked about a boy shipwreck on an island?

The details I know are that it is a 7 or 8 year old boy that was sailing off his homeland and he landed after a shipwreck of his boat on an island. The name of the owner of the island is Johnny Limbo or something like that. That man acquires riches and gives them out to the poor. When the boy knew about this he stole some gold coins and stuff and was trying to escape from the island but got cought by the assistant of the island owner; and he had to pay for his actions for 7 years.....any idea of the name of the movie? I really need to know it.