Florida Man Planned To Blow Up Target Stores To Buy Retailer Stock Cheap
by Tyler Durden
Feb 17, 2017
A Florida man tried to redefine “activist investing” after he made at least 10 explosive devices with the intention of blowing up Target stores along the East Coast in an elaborate “scheme” to send Target stock plunging so he could buy it on the cheap, the Department of Justice alleged.
Mark Charles Barnett, 48, of Ocala was charged with “possession of a firearm (destructive device) affecting commerce by a previously convicted felon” after he offered an unidentified person $10,000 to put at least 10 explosives – disguised as food items – on the shelves of Target stores in New York, Florida and Virginia, according to a criminal complaint filed in U.S. District Court in Ocala.
According to the DOJ’s compaling, Barnett, a registered sex offender on probation for multiple felony kidnapping, sexual battery and grand theft counts, hatched a plan to place explosives disguised as food items in Target stores along the East Coast from Florida to New York, thinking the plot would cause the stock price for the retail giant to plummet, allowing him to buy cheap shares of the company before they rebound.
“Barnett theorized that the company’s stock value would plunge after the explosions, allowing him to cheaply acquire shares of Target stock before an eventual rebound in prices” according to the criminal complaint.