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Boston nightclub owner Chips McGann organizes a group of mobsters to rob an armored car service. Ex-convict Red Mack is masterminding the plan on the condition that they wait for his old friend Pop Kane to finish a jail sentence. When Pop is released, the plans are completed, and several weeks are devoted to careful preparations. The gang then don grotesque Halloween masks, enter the armored car building, and make off with more than $2 million. As previously agreed, McGann is to keep all the money until the Massachusetts statute of limitations runs out in 3 1/2 years. A short time after the heist, Red is jailed on a minor robbery charge, but McGann refuses, despite Pop's pleas, to furnish the bail. Red is paroled, and McGann attempts to have him killed, but Red survives. The police become suspicious, revoke his parole, and lock him up again. When he refuses to talk, they tell him that they plan to arrest Pop on a parole violation charge and send him back to prison for life. Red then agrees to provide the evidence if Pop is cleared of all charges and permitted to return to his native Ireland. After the remainder of the gang have been apprehended, a meeting is arranged between Pop and Red. Pop, unaware that Red has saved him from life imprisonment, accuses him of being an informer and walks out of the room.