Contains spoilers for this episode and earlier episodes.
The investigators regroup in a motel after the party escape. The stolen papers connect Osip and McCandless to the railway project, while Vera explains that another woman collected blackmail material on Caspere's circle. She refuses to become Ani's cooperative witness. Ray then discovers Davis murdered, leaving him vulnerable to blame and the team without its state sponsor. The investigators arrange protection for family members as the people around their inquiry begin closing in.
Paul's records connect Caspere and Vinci officers to the 1992 diamond robbery. Ray and Ani recognise Caspere's secretary in a photograph under the name Laura, which links her to one of the orphaned children. Frank forces Blake to admit his partnership with Osip and Tony, Stan's murder and the false tip that shaped Ray's life. Frank kills Blake, prepares an escape with Jordan and burns the businesses Osip expects to take from him.
A threat to release photographs of Paul's encounter with Miguel draws Paul to a meeting. Miguel leads him into underground passages where Holloway and armed men demand the stolen documents. Paul fights his way out rather than betray the others, but Burris shoots him as he emerges. Ray and Ani, still unaware of his death, turn to each other in the motel. Their closer understanding arrives as the investigation loses the colleague who had finally traced the diamonds back to the officers protecting Vinci.