I've dealt with this kind of thing many times in my life with friends and family members. It's tough. I'm glad you gave him a second chance. That may have been like a lifeline for him. I don't know the details of what happened but usually if someone does something that forces me to break ties with them I will give them one more chance, with conditions. We never know the battles people are going through but if they make it a habit to betray trust of their friends there's usually some major inner work they need to do before they can break that pattern. Good luck my friend!