I reported my phone stolen. Will Verizon notify me if someone tries to activate it?

I had my iPhone 4s 64GB stolen in the City in the East Village area. I reported it stolen already through Verizon Wireless and when I got home I used the Find My Phone app where it was able to locate it in Queens. Now I know Verizon is tough on activating stolen phones but my question is: will they notify me if someone tries to activate the phone? Does Verizon confiscate the phone to return it back to its original owner? I had the Best Buy insurance paying $15 a month however their policy does not cover lost/stolen phone (BS I THINK) so i'm hoping someone out there will have a good heart /

No VERIZON will Not take away the phone to the person who has Your Phone. Unless The person leaves it there and returns it. NO they will notify you unless the person leaves it there and he/she says the phone was founded.

If you reported it stolen, its put on an international blacklist
its illegal for ANY wireless company to activate it on their network

if someone took it into a store, and tried to activate it, they would be refused, but this does not mean it will be confiscated or police called… Just won't be activated.