hi there,

well, its not true, you can still find the lost phone. however it will take time. just go to the police and report it. make sure you take with you the invoice of the purchased phone or if you have a document that has the serial code of the phone it would do.
i had lost a phone back in 2006, i reported it to the police, i was waiting day by day for them to find it. then, after 6 months, i got a call from the police saying that they found the person that is using the phone now! but of course, the phone was in very bad shape and all my data was erased from it! but eventually i got it back. thanks to the police :)