Authorities say the 13-year-old gave out thousands of dollars this week before schools officials discovered what was happening.
Investigators in the northeastern Ohio city of Medina (meh-DY'-nuh) have recovered about USD 7,000 so far.
Police tell The Medina Gazette that they're still trying to figure out how the boy got the money from his 83-year-old grandfather. They say it's too early to know if charges will be filed.
School officials heard about the cash giveaway on Wednesday. But by that time, police say some of the money already had been spent.