A masquerade ball is being held with Lana and Clark in attendance. Lana asks Clark to dance with her but Clark excuses himself and leaves in a hurry. Clark sees that a pair of notorious thieves are in the area and decides to surprise them still dressed in his devil outfit for the masquerade ball.
Flying off, Clark appears behind the thieves and offers to grant them three wishes if he grants them one. The thieves wish for the biggest diamond in the world and Clark heads to the nearest coal mine where he squeezes a large lump of a coal into a diamond with his super strength. He returns to the thieves, who realize the diamond is too big for them to get money for it. They ask "the devil" to return the diamond and bring them a million dollars in cash instead.
Clark flies off and finds the cache of counterfeit money the thief has printed in a nearby building. Clark brings a million dollars in this phony money to the thieves, who realize it is worthless and are told the "devil" called the police to arrest them. For their final wish, the thieves want the devil to take them to a hideout where the cops won't get them.
Clark takes the thieves to the interior of a volcano and he says for his wish, he wants the thieves to write down every crime they've committed. After they do this, Clark reveals himself to be Superboy and carries the crooks off to the police.
Clark returns to the masquerade ball and tells Lana he's been having a devil of a time.