It does. The thing is, the police said he had a knife
in his car, not on him. If that's the knife in the video frame
@Enhance posted, maybe they didn't know he was carrying it, because
it looks like his body was shielding that object from their view? Hard to say.
It could also be any number of dangly-things that people attach to their key rings, or it could be the key fob for his car - I have two that are huge, and would easily be seen in a video frame like this. Lord knows why they make them so large.