The update says the brat's handler is going to pay for the damage, but the kid should still get punished. Ten years old is plenty old enough to understand what "don't touch that" means, and if they decide to blatantly not listen, then they are old enough to be punished. I don't think he's too young to get introduced to the business end of a leather belt, but modern parents would probably call that abuse, so ground the fucker and take away everything but his mattress. Make him work off the debt with chores, and add another week to the grounding every time he refuses. Break his shit right in front of him and tell him why it's happening. Take away his birthday presents/party and Christmas presents if necessary.
Without consequences, Junior is going to wind up breaking something a lot more expensive one day. Daddy can bail him out, but if he doesn't learn, he has no reason to stop.