The incident began when Olsson seized hostages at a bank in Stockholm, demanding that Olofsson be released from prison to assist in negotiations. Once inside, Olofsson reportedly aimed to protect his hostages. One of the captives, Kristin Enmark, notably advocated for her captors, asserting their kindness and expressing a desire to leave with them. Despite the chaos surrounding them, she expressed loyalty to Olofsson, whom she trusted deeply. Over six tense days, police attempted to resolve the situation until they finally stormed the bank, using tear gas to end the standoff.

Psychological experts have long debated the validity of Stockholm syndrome as a clinical condition, initially named by Swedish criminologist Nils Bejerot. The term gained additional recognition after the kidnapping of Patty Hearst in 1974. Enmark, who survived the ordeal, has openly criticized the notion of Stockholm syndrome, arguing that it unfairly shifts blame onto victims rather than acknowledging their survival instincts.

Olofsson's history is marked by repeated incarceration for various crimes, with his last release occurring in 2018. His life story garnered further attention when actor Bill Skarsgård portrayed him in the Netflix series "Clark."