Jerrod waits in a disguised warehouse that once advertised itself as a gambling parlor, uneasy because Prosper Beck has officially returned and will expect Jerrod’s loyalty again. Jerrod reflects that he meant to remain detached while working with Andreyen Morettus’s crew at the Black Mansion, but the group’s real loyalty to one another, and especially Merren’s trust in Jerrod, has made that impossible.

Jerrod brings Artal Gremont and an unnamed Malgasi woman into a small office where a large man dressed as Prosper Beck waits behind the desk. Jerrod is repelled by Artal because of Artal’s cruelty, especially the harm Artal did to Merren, but Jerrod stays focused on the meeting.

The Malgasi woman argues that Castellane’s Palace is corrupt, dismisses the Ragpicker King as compromised, and says the city needs an independent ruler of the streets. She asks whether Beck will work with her as power shifts on the Hill and in the city. Jerrod realizes this is far more dangerous than an ordinary criminal bargain: the woman expects Beck to align with her against both the Palace and the King in the City.

The man posing as Beck asks for time to consider, but the woman tests him by asking why he hates Conor Aurelian. When the impostor answers only that Conor is corrupt because all nobles are corrupt, the woman recognizes the deception and kills him with a thrown knife. Before Jerrod can draw his own weapon, she pins him back and reveals herself as Elsabet Belmany.

Elsabet spares Jerrod so he can tell the real Prosper Beck that she is looking for him and will not forgive being deceived. Elsabet also threatens to set Artal loose on Beck next time, and Jerrod notices that Artal appears deeply under Elsabet’s control. After Elsabet leaves and Artal storms out, Jerrod identifies the dead man as Bron, a longtime associate trained to impersonate Beck, and quietly mourns him.