- Ossie Connors, a brilliant and ruthless bank robber, devises a complicated scheme to get revenge on McGarrett, who put the criminal away 10 years earlier in what the lawman describes as "my first big arrest." Connors bribes a Five-O snitch to mislead Dan Williams, then has the snitch killed. Before the tale ends, three more people will lose their lives. McGarrett, relying on cop's instinct, resists what appears to be an easy end to the case.—Bill Koenig
- Jerry Howe (Jackie Coogan, Uncle Fester from Addams Family), an informant for Danny, has a tip about a large bank heist planned for the next day at 10:00am. Danny pays $100 for the tip and leaves. In walks Ossie Connors (William Windom) and Sanders, to also pay off Jerry $300 for giving the false information to Danny, but instead they kill Jerry.
McGarrett takes the tip but does not feel right, especially when he learns that Connors is on the island. It seems their paths have crossed before and Connors has a vendetta against cops, especially Five-O. In an office visit to Five-O Connors trys to convince McGarrett he is reformed, but Steve is not buying it.
HPD and Five-O, relying on the tip from Jerry, stake out the bank at 9:45am and wait and wait. Meanwhile Connors and Sanders kidnap an international currency bank president Toshi Nomuru and his wife while wearing women`s stockings over their heads. Connors takes Toshi to his bank while Sanders stays with Mrs. Nomuru.
It turns out this bank is across the street from the Five-O and HPD stake-out. Connors has the bank staff put about $40,000 in international currency in a strong box but then an armored car arrives to take 3 large sacks of currency out of the bank. Connors hides and watches but does not interfere with the money transfer, and warns the bank staff to be quiet. After the armored car guards leave, Connors takes his strong box and some files from the bank and leaves with a warning to the staff to not follow him. He calls Sanders, but there is a problem, Sanders tried to molest Mrs. Nomuru and killed her when she resisted.
Across the street at the first bank, McGarrett feels he has been had and they search for Jerry where they find him dead. Now McGarrett is sure it is Connors but how to prove it. Meanwhile, Connors gets another island thug to accompany him to meet Sanders, and has the thug kill Sanders and plant the international strong box money.
Acting on another tip, McGarrett picks up Connors and takes him to a bay where a car is being removed from the water. Inside they find the international strong box and all the money, Sanders, and the other thug. The case looks solved, but McGarrett still thinks Connors is involved with all the bait and switch going on. He has Mr. Nomuru come to see if he can identify Connors but he cannot so McGarrett lets him go.
Five-O does some more investigating and discover where Connors was staying, and that he made a small purchase but wanted all his change from a $20 in quarters. They joke maybe he was doing laundry when McGarrett thinks and speculates a long distance phone call. The store clerk remembers Connors did that so they get the phone records. A long distance call was made to a international currency exchange in Hong Kong.
The scene shifts to Hong Kong and Connors walks into the exchange bank with a manifest for the three sacks of money taken from Nomuru`s bank back in Hawaii, thus the files Connors took were the receipt papers for that money. Just as the cleck is starting to hand over the money McGarrett steps out to suprise Connors, McGarrett knew the M.O. of Connors was to make the police look foolish, but now he has his criminal with the evidence.
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