Brand new IPhone 5 Stolen what to do?

So today some guy (around 15, 16) asked if he could use my iphone 5 which i recently purchased 1 week ago with a $80 Life Proof case on it.Me, being nice allowed him to and mean while while he was doing that I was talking to my friend, I started walking away, forgetting I'd let him borrow it and when I did realize it was not with me he was riding off on his bicycle and I shouted and he didn't turn around but he knew what he did. I filed a police report but doubt that'll do anything. It happened around 11 p.m. Friday, last night. Is there any way I can find it? Track it? I called it and he turned it off and my mom disconnected it. I'm also concerned he can unlock it and get in my stuff. Thanks! I'm just frustrated cause it's brand new and somebody could do such a thing!

No, you can't do anything. And cops probably won't find it. You can say bye bye to it.

Call technical support with the wireless carrier, they should be able to help you locate, or at least wipe it clean. Make sure when you call you have the original box it came in. Among other address numbers the box has what's called a mac number that is your phones permanent address and can show location data if you as the owner request.