Private investigator Nat Pyle is at his boat on the marina drinking when out of the water some frogmen pull him into the water.
Later Britt at the Sentinel hears of this and sends for Scanlon to meet him. He also sends Casey to Pyle's office to see what she could find.
Scanlon meets Britt who tells him that Pyle came to him earlier telling him that he has proof that a criminal named Connors who supposedly died three years ago is alive. Britt turned him down. Scanlon calls the coroner to find out what they ruled the death to be. And he ruled it an accident despite him having bruises on his body. Scanlon tells Britt that Pyle was amoral but Britt doesn't want to rule out the possibility that Connors is still alive because he was one of the men who framed Britt's father.
Britt turns into The Green Hornet and proceeds to Pyle's office and finds it ransacked and finds one of Casey's shoes.
Casey is on a yacht being questioned by a man asking her what she knows about Pyle. Casey claims she doesn't know anything. He has her taken below.
The next day Britt's about go to his boat when he hears of a woman being found in the water. He thinks it's Casey.
At his office Britt learns it's not Casey but Nedra Vallen who's the girlfriend of Charles Delaclaire, a wealthy financier. Britt tells Scanlon that he suspects Delaclaire is Connors. Scanlon says it's impossible. But Britt decides to put an article in the paper stating his suspicions that Connors is still alive.
Later as the Green Hornet, they visit Delaclaire on his boat. They discuss how Connors was able to assume Delaclaire's identity. It seems he had plastic surgery and apparently not too many people knew him except for Nedra. He then asks why he killed her. It seems while they were at Pyle's office he found evidence that she was working with Pyle. He then offers to take care of Reid for 1/3 of what Delaclaire has. He thinks that its too much but reminds him that 2/3 of Delaclaire's holdings is a lot. And that he also wants Casey.
Later that evening as the Gree Hornet he gets Casey and promises to deal with Reid. He takes Casey to the Black Beauty and changes into Britt Reid. And goes to his boat. And sets of the Hornet Sting. They go to collect from Delaclaire but he sends his frogmen after them but they deal with them. And Kato kicks Delaclaire into the water. Casey comes running having just called Scanlon who sends the police and they leave.