Rascal responsible for a rip-off? (8)

I believe the answer is:

tearaway

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'rascal' is the definition.
The answer and definition can be both people as well as being singular nouns.
Perhaps they are linked in a way I don't understand?

'a rip-off?' is the wordplay.
'a rip' becomes 'tear' (synonyms).
'off?' becomes 'away' (synonyms).
'tear'+'away'='TEARAWAY'

'responsible for' acts as a link.

Can you help me to learn more?

(Other definitions for tearaway that I've seen before include "Reckless and impetuous person" , "Hothead" , "rebel" , "unruly character" , "reckless type" .)

I've seen this clue in the Evening Standard.

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