He stole from me, what should I do!?

About four months ago my best freind began stealing expensive Xbox 360 accesories from me while he slept over, he stole about 300 bucks worth of stuff, and when I began noticing missing stuff he denied he stole anything untill I caught him trying to sell it on the internet. After my parents got involved I got my stuff back. He got grounded for months and always sent me IMs saying he was super sorry and he learned from it. Now that I forgave him he wants me to hang out with him, but I still cant trust him, should I hang with him or should I just get over it and just ignore him. Me and him were really great freinds.