Jim arrives at an observatory and opens up a pay telescope that has his tape briefing and flashes pictures in the viewer. Alex Cresnic is a heroin dealer who has bought a heroin crop in Asia and has taken on a partner to finance it, Mark Walters. The IMF must prevent the men from selling their heroin.
Jim assembles the usual team plus Dr. Premel, and Cinnamon checks out heroin disguised as bath crystals. Rollin demonstrate a vacuum sleeve device that silently sucks up powder, and another device that delivers a different powder. Premel has a spray device that will knock someone out for 3-4 hours, and Cinnamon tries on a special ring.
Cresnic and Walters demand more money from their investors and they have no choice but to agree. Elsewhere in the building, Barney rewires the elevator circuits and installs a projection device and sound system. After the buyers leave, Walters leaves as well. Rollin gets the drop on one of them, Maharis, and tells him to pull over so he can make a counter-offer as part of a rival organization. Willy picks up Rollin while Barney dons an operator's uniform and reenters the elevator. He picks up Walters and Jim gets in as well. Barney then uses his equipment to fake an elevator crash and in the confusion they drug Walters unconscious.
Cresnic goes to visit Walters at the morgue after his "accident" and Cinnamon is there as his widow. Premel has Cinnamon and Cresnic identify Walters' corpse and turns over the dead man's personal effects to Cinnamon. Cresnic wants a notebook that belongs to him and she refuses, and he insists that she give it to him… now.
Cresnic takes the notebook then demands answers, as he wasn't aware Walters was married. Thanks to a passport slipped in by the IMF, Cinnamon convinces Cresnic she is married and sets up a meeting with him. It turns out Walters was given a drug to make him look dead. Premel revives him and gives him a drug simulating blindness, then tell him he'll recover in a day or so.
Cinnamon claims Walters told her everything about the operation and she has some papers Walters gave her as an "insurance policy." Cresnic warns her that some of his buyers have dropped out and Cinnamon mentions a company Walters told her about that may be involved.
Rollin goes to the hospital and impersonates Cresnic's voice. He talks to Walters and says that someone is trying to force them both out of business. Cresnic and Cinnamon go to the company, World Wide, and Rollin greets them. Cinnamon identifies him as the man who approached her and steps out, while Cresnic demands to see Rollins' operations. Jim is working in the lab and dying heroin to pass as bath crystals. Cresnic prepares to shoot Rollin but Willy and Barney draw down on him. Rollin orders him out and Cresnic vows revenge before leaving.
Cinnamon calls and they make plans for 2 a.m. that night. Cresnic and his men break into the place that night where Jim is working in the lab. Cresnic shoots Willy dead. Barney breaks into Cresnic's basement. Barney carefully measures off distances then cuts a hole in the ceiling at a precise point.
Cresnic takes the "bath crystals" and passport clearances, and Jim as well. Willy is okay, since Cresnic shot a dummy. Barney removes the strongbox from Cresnic's desk directly above and puts in a hinged bottom. He then puts a signal light down below with a trigger device beneath the carpet up above. Cresnic returns to his house and sets Jim up in his lab, then the next day meets with Cinnamon, his new partner, and raises the prices on Maharis and the others now that World Wide is out of business. Rollin arrives to confront them but Cresnic is unimpressed and has him escorted out. Jim will be done in a couple of hours… and Cresnic orders his men to dispose of him when he's done.
Left alone, Jim uses the sleeve device to switch Cresnic's heroin with dyed powdered milk. Cinnamon insists on being present for the money exchange but indicates she's interested in Cresnic as well. Rollin pays another visit as "Cresnic" to Walters and sets up a plan with him.
Cresnic checks the fake heroin and doesn't catch on, and has his men take Jim into town. Barney helps him take out the men before they can kill him. Premel takes the bandages off of Premel while Cinnamon and Cresnic meet with the heroin buyers. Cresnic offers them delivery but Maharis chooses to take his purchase now. Willy as a taxi driver picks up Walters and brings him to the house, where he goes into the basement per his plan with Rollin/Cresnic.
Cresnic puts the money in the strongbox in his desk then Rollin breaks in with an armed Barney and Willy. Cinnamon gives a signal to Walters below which per his plan with Rollin/Cresnic, he's to remove the money from the strongbox. Rollin orders Cinnamon out then tells Maharis to check the heroin and they figure out it's fake. They demand their money but Cresnic finds the strongbox empty. Rollin breaks open the box to reveal Walters down below counting the money. Maharis shoots him dead while the IMF slip out. Cresnic denies everything to no avail and as the IMF leave, a gunshot rings out inside.