An infamous band of thieves continues to succeed in robbing private caravans and government carriages as they pass through the countryside, puzzling the authorities. Soon, though, a mysterious masked man begins to upstage the gang of thieves by robbing the cargoes before the thieves can, and then returning the stolen money after the robbers find the travelers empty-handed. Soon, both the government and the band of highwaymen are trying to discover the identity of the "Jinete Fantasma.