Yes, file charges against the little punk. Bet that phone was the best money could buy which will bring higher charges of theft. His college fund should disappear along with the kid's car and any other thing in dad's name. Whatever dad does, do not let the kid think he can lord it over the rest of the family with threats to call CPS.
I bet that phone is a regular who’s who of Haverford druggies and their dealers and who knows what else.
There’s a reason the kid was desperate to steal it back and it wasn’t to play pokeman.