Arson suspect, 24, now officially arrested *

He is 24 years old (not 55 as reported previously) and suspected of setting as many as 53 fires, with property damage over $2 million. The German native formerly considered just a person of interest is set to be booked later this afternoon. An official presser has just concluded.

* 3 p.m. update Officials have scheduled a 6:15 p.m. press conference to provide new details on the case.

Photo: Screen grab at CBS LA's website