German authorities have arrested a 28-year-old man of German and Russian descent who they believe tried to blow up the Borussia Dortmund team bus before a Champions League game earlier this month. According to prosecutors, the man carried out the bombing in order to drive down Borussia Dortmund’s stock price so that he could pull off a get-rich-quick scheme.
From the New York Times:
According to prosecutors, the suspect had checked into the hotel where the team was staying. On the day of the attack, he purchased 15,000 put options over the internet for shares in Borussia Dortmund, which is publicly traded. These would have entitled him to sell shares later at a predetermined price.
The financial maneuver could have resulted in a substantial profit for the suspect if the shares had undergone a “massive fall” value in the interim, prosecutors said. “A significant share price drop could have been expected if a player had been seriously injured or even killed as a result of the attack,” they said.
After the bombing, various flimsy reports about who carried out the attack emerged. At one point, Islamic extremists were allegedly to blame, then it was white supremacists. Today’s arrest and statement from prosecutors appear to be the first solid developments in the investigation.