Jim drives to a recording studio and locks himself into a booth. He then plays a record with his briefing concerning Frank Wayne, the number one Syndicate boss. Frank has taken over honest businesses and has a system to deposit Syndicate funds in Swiss bank accounts, putting a drain on U.S. gold reserves. The IMF must get the Syndicate records, at Frank’s country estate, and turn them over to the authorities.
Jim assembles his normal team plus plastic surgeon Dr. Emerson Reese. At the briefing, Jim demonstrates a fake model based on the back half of his body, which allows him to slip away. Reese tells the team that he can make Rollin look like Frank, and that he has taught Cinnamon the procedure. Willy has rented the apartment in Jim’s name and made sure there is a manhole in front. Rollin has located the safe in Frank’s office, behind a bookcase, but the Syndicate had their own man set the tumblers. Barney has a special lamp set up and designed a gun that will jam on cue for Rollin. Willy asks about Johnny Bibo and Jim informs the team that they’ll take him to Frank’s place in the morning once he loses his case, and force him to dig his own grave. He figures that Bibo will talk to them about Frank, who he grew up with. Cinnamon has made sure the newspapers will run a story about the Senate’s new chief investigator... Jim.
Willy and Dr. Reese drive out into the country near Frank’s estate. Mob bosses Vito Lugana and Al Morgan are reading the article about Jim and are worried, but Frank isn’t impressed. Frank checks the banking arrangements that they’ve made and confirms that they now run everything through their Swiss bank.
As Jim and Barney drive up to the estate, Frank sends his girlfriend Ginny out of the room and meets with Vito and Al. Frank’s henchman Johnny assures his boss that Bibo is out back. Jim and Barney burst in with a warrant and begin searching the place. Frank has Johnny call his lawyer and complains as they turn over the place, but Jim is unsympathetic.
At the apartment, Rollin demonstrates a prop silicon injector to Cinnamon, warning that she’ll be taking off his makeup in front of three men that would kill them both.
Jim finds Frank’s safe but before he can order Frank to order it, Frank’s lawyer Cheevers arrives with a cease-and-desist. While everyone else watches Jim tear up the order, Barney plants a bug. Johnny threatens Jim with a gun, ready to shoot him as a trespasser, and Jim leaves with Barney. As they drive off, Barney tunes into the bug and they listen as Frank says that they’ll move everything to the office.
Johnny cleans out the safe for when they go in later. Frank has Al bring in Bibo while Johnny gives his boss a shave.
Jim and Barney join Willy and Reese on the hillside. They figure they have 20 minutes and Reese tells Jim that he has the equipment necessary for the job at hand.
Bibo comes in and Vito studiously ignores his greeting. Frank tells Bibo that he has the council that he asked for and has to accept their decision. He then asks what happened to the missing quarter million dollars in Syndicate funds. Bibo claims to have no idea what happens to the $2.4 million he transferred to Switzerland, and confirms that Vito gave him the money. He tries to blame the bankers in Switzerland but Frank tells him that Al checked the receipts at the Swiss bank. The Syndicate boss advances on Bibo with his shaving razor and cuts his jacket, then places the blade to Bib’s throat and demands the truth. Bibo bursts into tears and tells them that he needed the money for a babe. Frank doesn’t care and tells him that his childhood friend broke the rules. All three men vote against Bibo and Frank gives Bibo a white lily, the death sentence. Johnny takes Bibo out and Frank ignores his pleas.
Johnny grabs a shovel and takes Bibo out behind the house. Willy and the others see him, grab the medical equipment, and sneak up on the two men. Meanwhile, Frank’s enforcer forces Bibo to dig his own grave, pistol-whipping him when he begs for his life.
At the apartment, Rollin and Cinnamon work on plaster molds for Rollin’s mask.
Johnny orders Bibo to stop digging and then knocks him unconscious. He then kicks him into the grave and covers him over, burying him alive. The IMF agents watch but do nothing, and Reese tells Jim they have to get to him in the next two and a half minutes at most. However, Johnny settles down for a cigarette and Reese warns that they’re running out of time. Jim has Willy throw some rocks toward the house and Johnny hears the noise. He goes to investigate and the team moves in. They dig Bibo up and Barney applies the resuscitator. When he doesn’t get a heartbeat, Reese administers adrenaline and performs CPR. Bibo finally revives and they take him to the apartment. He refuses to help at first but Jim threatens to bury him if he doesn’t cooperate. Bibo warns that Rollin looks nothing like Frank but they tell him to let them worry about it. He agrees to help and informs them that Frank is left-handed, and then walks Rollin through Frank’s other mannerisms.
At an IMF hotel room, Barney and Willy cut a hole in the wall from the adjoining room and then put a bureau with a one-way mirror in front of it.
Bibo continues to give Rollin tips on how to impersonate Frank. He warns them that Ginny will see through the disguise in a minute but Rollin just smiles. Once they’re satisfied, Jim goes to pick up Wayne.
Frank and the others take the Syndicate files to the safe in Frank’s office. He dismisses Vito and Al’s concerns about Jim and they go to get lunch. Jim and Barney are outside and serve Frank with a subpoena for a U.S. Senate committee. When Johnny tries to intervene, Barney disarms him and Jim hauls Frank away while Vito goes to call Cheevers.
Jim takes Frank to the hotel room and shows him Bibo, apparently dead and covered in dirt. Frank refuses to tell them anything but Jim warns that he won’t be leaving until he tells them everything. In the next room, Rollin watches Frank and listens to his voice while working on his mask. Jim slaps Frank around a bit and they continue the interrogation, giving Rollin plenty of time to master Frank’s voice.
The next morning, Cheevers tells Vito and Al that he’s unable to locate Frank. The mobsters don’t believe it and tell the counselor to find Frank and soon.
Jim starts beating Frank until Barney pulls him off of the mobster and suggests that he take a break. Once Jim leaves, Barney gives Frank a cup of coffee. Frank knocks it out of his hand and takes his gun, just as the IMF planned. The mobster then calls Al and gives them his location. Johnny and another thug arrive and get a janitor to show them the service room. Meanwhile, Frank takes Barney toward the door at gunpoint, but Rollin comes in and knocks him... disguised as Frank.
Johnny puts on a janitor’s outfit and knocks out the janitor, and then heads for the hotel room. He knocks out Willy, posing as a street cop guarding the door, and Rollin/Frank orders them inside. When Barney puts up a fight, Rollin/Frank shoots him with blanks and leaves with the two thugs. Meanwhile, Jim and the others take Frank to Reese.
Rollin/Frank meets with Al, Vito, Cheevers, and Johnny and says that he plans to settle the score with Jim. They tell him in no uncertain terms that he’s taking a freighter out of the country, and one way or another he’s out of it.