Can you file a police report when you let someone borrow something and not return it?

I let my dead beat brother borrow a pretty expensive tool , because he told me that he had to fix his lawnmower to cut gr or he was going to be kicked out of his home well there was no cutting gr instead he used the tool to cut out a catayltic converter out of his car for the copper so he can use th Monet to buy his pills, I found the tool in a pond shop, but I hate to pay a high price again for the tool,