On the evening of the League of Adventure Seekers’ annual dinner, the city is awash with rumours of an epidemic of blackmail and extortion in which no-one’s secrets are safe. During the dinner the meeting is overrun by a new menace. Giant rampaging Albino Alligators burst in on the diners and attempt to kill the guest of honour, Marion Ribbensberg. After the attack is beaten back, Ribbensberg invites the heroes to stay and defend the city against this rising threat. The following morning the kidnap (by alligator) of two of the children of two of the city’s major mob figures, along with the disappearance of numerous others (including two of the heroes friends) is reported. The heroes are notified by Detective Tony Wells (a secret supporter of the League’s work) that an alligator has been trapped in the basement of the Pendleton Gallery where their two friends disappeared.
The trapped alligator is trying hard to rejoin its compatriots so the heroes follow it back to its nest. Doing so the heroes encounter an abandoned nest in which their two friends are caged and waiting to be fed to the creatures. When one of the cages is opened a switch is triggered that sends a deadly electrical charge through the other cage killing the occupant instantly. Tegan Rodriguez, driven to the edge of her sanity by grief, blames the heroes for the loss of her husband.
Leaving the scene the heroes are intercepted by members of the Falcone crime family who take them to a meeting with the head of the family, Jerry Falcone. Jerry Falcone orders the heroes to act as his emissaries delivering the ransom for his missing daughter to the designated drop location. The heroes do so and are met by Cinqo Tavolli (former cappo to the Falcone family, now working for the Tremeres) who is acting as the Tremere emissary. They place the loot on a slab that begins to drop down opening the cage in which Jocelyn Falcone and Marco Tremere are located (hanging over a pit full of hungry alligators), but Cinqo grabs the loot and tries to escape with it. The cage drops away and the alligators feast on both prisoners.
Pursuing Cinqo through the tunnels the heroes recover the money, but he escapes.
Falcone is desolate at the loss of his daughter and orders open season on the Tremere crime family. Cinqo convinces the Tremere’s that the deaths were caused by the heroes (working for the Falcones’) and so a mob war begins. Jerry Falcone instructs the heroes to leave town (under escort) for their own safety. At the train station the thugs who are escorting them receive word that Jerry Falcone has been assassinated by a sniper and that Eadie Tremere has been killed by an explosion. As they hurry off Claire Templeton, reporter for the Tribune approaches the heroes. She has evidence that Tommy Boscone (of the Falcone Family) and Dillon Tremere (of the Tremere Family) are colluding with an unknown third party to gain control of the two families.
She plays a tape of Tommy Boscone talking to an indistinct third party about how a rapprochement with the Tremere family can be accomplished after the assassinations. Mention is also made of the transfer of a large number of shares to a holding company on behalf of the indistinct voice for “services rendered”. When asked what guarantees Tremere cooperation the voice states that a similar deal has been made with Dillon Tremere. Claire is also aware that an alligator carcass has been recovered from the bomb site where Eadie Tremere was killed and has been transported to the city morgue. She offers to drive the heroes there.
As they approach the exit to the station a side door opens and Cinqo Tavolli, armed with a strange weapons appears, and motions the group into the stairwell and up onto the roof. He demands that Claire hand over the evidence she has gathered and in exchange he will let her live and allow the heroes to take her out of town with them.
If not, he will kill them all. Claire refuses to comply and Tavolli shoots her with his strange weapon. It is an electronic disruptor and it both stops her heart and destroys her taped evidence. The heroes charge Tavolli who, after a short struggle, tumbles off the roof to his death, but not before dropping the disruptor. Her heart has only stopped briefly and can be restored by the quick application of CPR. She is resuscitated and placed in an ambulance. As she is wheeled away she gives the heroes the name of the Medical Examiner (Theo Tyrone) who is examining the alligator corpse.
Unwelcome in the city by either mob (now that the Bosses are dead) and with vital evidence destroyed only the morgue remains a viable avenue for clues. At the morgue the heroes discover a wallet has been recovered from the animal’s insides along with human remains. In it are an id card, and a meal card for the Pevensee Street Mission. Apparently, the wallet belonged to a homeless man (Herb Whitman) who was eaten by the creature. Asking among the cities homeless the heroes discover that the Pevensee Street Mission itself is boarded up but hosts a soup kitchen once a week on the sidewalk out front. It has a very unsavoury reputation and it is rumoured that folk who break in to sleep there overnight tend to go missing. Locating the mission, the heroes discover that it is indeed abandoned and boarded up. Breaking in, they walk a short distance down the hall only to have the floor open up beneath them sliding them down into a cage beneath the building that sits on a ledge overlooking a huge nest of alligators.
At a control panel not far away, sits a cloaked man in a wheelchair. The machinery he is working with listens to vibrations in the pipes and plumbing of the city that allows him to listen in on conversations anywhere pipes are exposed. By means of this he has been carrying out his campaign of blackmail and extortion. He congratulates the heroes on getting so far and discovering all that they have but, sadly, points out that they have reached the end of the road. In a few moments he will depart and, once the winch is set in motion, the heroes will be lowered into the alligator pit where they will become food for his adoring minions. When told that he will not get away with his attempt to take control of the city’s crime families he laughs and says that this was all merely a fund raising exercise, the first step towards his greater goal. Laughing he starts the winch and leaves.
The heroes use the electronic disruptor to wreck the winch engine and get the cage door open; they then burst out of the pit to give chase to the villain. He hurtles along the sewer tunnels ahead of the heroes trying to make good his escape but topples off a bridge over a dark pit into unfathomable darkness. The body is never found.
The disruptor has wrecked the listening machine beyond repair and the alligators, no longer under his control disperse into the sewers never to be seen again. In coming months it becomes obvious that the Tremere and Falcone families are now one mob, but the ultimate power behind the families is unknown. The heroes are now very unwelcome in the city having failed to apprehend the villain, being hated by both crime families (because of the possibility they may know about the assassinations), being shunned by their friends (because of the friend they failed to save), and being distrusted by the police (because of the unbelievable nature of their story). On the positive side, Claire Templeton (alive and recovering in hospital) is now a staunch ally, and the deaths by alligator attack seem to have come to an end, as has the wave of blackmail that had been washing over the city.