I have found the bomb a few times. Since it’s randomly placed and always seems to be on the last person you strip, there’s hardly ever any time left before it detonates. I have tried throwing the bomb into the ice cream box, the bin and at the car. Each time the bomb blows up, killing the client in the process. What are you meant to do once you find the bomb?
You just have to throw it away. Throwing it across the street or any direction that gets it as far away as possible to the people is enough to complete the mission