Here is an option

I agree that you should let him learn the lesson. The best way to do it is work related. This way, there is nothing personal, people don't feel like you are trying to revenge on him. On the other hand, when he screws up at work, it is big time for your boss or your company, people will remember him in a bad way, :-)

For example, if he wants to claim credit for the hard work others did, you can give him a wrong piece of work of yours that he could claim credit on, and screw up big time...