I'm actually surprised this isn't a joke thread...

If you need to make a post on an internet forum justifying stealing a bike that's probably a sign you should just walk away. I'm sure the guy who jacked the rear wheel is a "rear wheel" enthusiast.

Why not just report the locked up bike to the police? They'll cut it and try to find the owner. If the owner comes files a police report with the serial number well voila they get their bike back.