I think if you're going to have pets you have to do your research... and I do consider fish pets. It would be helpful to know what kind of fish it is to be able to give any kind of advice about keeping him. But I am not an advocate for flushing a fish just because you don't particularly like it. Some fish can not live with other fish easily because they are aggressive and carnivorous, but it isn't to say that it must live by itself. For instance goldfish are known to be mostly able to only live with other goldfish... anything else that is small enough to fit it it's mouth it will eat.
Stop replacing fish and do some homework, or give it to someone who will care for it properly.
After reading your SWH, do the research yourself. Who ever you're talking to doesn't know much about fish if they told you two rainbow sharks could live in the same tank. They are aggressive fish toward each other. You don't mention how big the tank is, but these fish need room to swim and to hide. If it's less than 30 gallons it is sure to become more aggressive. Releasing it into the lake will be just as bad as flushing it imo... it's not likely to survive there.