Peter brings Rebecca in to help locate Neal, who is being held captive by one of her former associates. Jim has lofty aspirations of joining an exclusive group of thieves, and his entry ticket is the diamond currently held by the FBI.

Peter presents Neal's deal to his superiors at the FBI: Neal will bring down the Pink Panthers in exchange for his freedom. And this time Neal is making sure there are won't be any technicalities. The stakes couldn't be higher for Peter either, as Pillar makes it clear that the bureau is intent on bring down the Panthers and Peter could lose his job if Neal's plan goes south. When Neal finds out that Keller is now part of the Panthers, Peter wants to call off the mission and simply take Keller down once and for all, but Neal knows that this is his last chance. He can't trust Keller and can't figure out why he didn't sell him out to the Panthers right away, unless Keller needs something from him.

Neal is conflicted over scamming an innocent mark; Peter works with an audacious Interpol agent who could jeopardize their operation.

Neal hasn't heard from the Panthers in days and he's worried that either Keller turned on him or Woodford simply decided to cut him out of the deal. Using the algorithm Neal stole for the Panthers, the team is able to determine that the Panthers are targeting something arriving at the San Francisco airport. But without enough time to make it to the West Coast, Peter is forced to pass on the task to the local FBI office. Meanwhile, Mozzie comes face to face with his wife, who he met on a con, married on a whim, and hasn't seen in five years. She insists that she's reformed and wants to start a new life (with someone new), but Mozzie isn't convinced, and asks Neal and Peter for help.

The FBI knows that the Panthers are going after the Federal Reserve - specifically, a shipment of international funds that can contain up to 0 million. But there's trouble afoot, as Woodford has discovered that there's a mole in the operation. Surprisingly, he doesn't suspect Neal, but rather tasks him with revealing their identity. Peter needs to convince Luc to pull Keller or risk the Panthers going underground again. And when the Panthers decide to use firepower on the Federal Reserve job, it's up to Neal to convince them he has a better plan.

Neal and Mozzie prepare to put their plan into motion. With Peter undercover in the Panthers now as well, the stakes couldn't be higher. Neal and Mozzie know that Keller will try and double cross them, but they have no choice but to work with him and have planned for every contingency. If the plan works, the Panthers will be taken down, they'll have million of the Federal Reserve heist and Neal will have his freedom - whether the FBI is ready or not.