He is 16 and SCARED. What do you expect? A slick PR campaign? Heck in some other countries, kids aren't even considered adults at that age.
He is naive and immature and realizes what he did is wrong. To make amends, in true 16 year old fashion, he gives a bullet list of errors to try and help undo the damage.
For his inability to communicate, show restraint, maturity, planning and foresight, for the very crime of being young and immature, he gets people wanting to throw the book at him? In that case, can we please, pretty please, torch wall street?
Its quite likely that he realizes that giving an error list is BAD and STUPID, and now is trying to back pedal by putting on a brave face to ignore the bone headed-ness of his (compounding) mistakes.
Try and imagine exactly how YOU would feel if you had a huge amorphous mob saying "The FBI should come for you"? At 16 you have NO scale in your head to cope with that.
Restraint is (one of) the hallmarks of maturity. As is intelligence and not taking good faith for granted - like not sending a list of errors you can be prosecuted for.
Here is what I would do - call this kid parents and Leave it at that. Let the family know how close he is to being in BIG trouble. If you want to do one better, give him a constructive outlet. He is already probably one very, very, very, miserable and frightened kid right now. And he should be.
Its called grace forgiveness and wisdom. As adults, we are supposed to have it. You are NEVER going to deter kids from being kids. So you need to ensure that they are scared and know where the line is drawn, so that they can become effective productive Adults.