Many stories about that abound, It is a common practice to steal fuel that way.
Of course there is the urban myth of the thief who siphoned the wrong tank on the motor home (I know it is a myth because the only opening into that tank from outside is on the roof, not on the side of the coach.. You can guess which tank)
Back to your story.. I am surprised he left the drill bit.
There are products that you can use to plug the hole that will actually work, Even with fuel in the tank at the time... Alas, i can not recommend a specific product without more research though. The one I use is for pinholes only.