If this guy were in on the plan, there would be no need for an actual bomb, just a collection of hardware and lights that would terrify a bank teller and security guards. A real bomb would be a tremendous liability and unnecessary.
Nope, this guy was set up by some cold-hearted dudes. Unless there was any physical evidence on the guy or the bomb, it will be really tough to find them, too. And these cold-hearted dudes will likely try something again.