News spreads like wildfire through the streets of Lubló: the ghost of recently deceased Mihály Kaszperek has been seen emerging now and then around the town. He pays off his debts, seeks out his debtors, flirts with his widow, then before sunrise he gallops off seated back to front on his steed. However, it soon transpires that the gold he is using is fake. Naturally, a counterfeiting phantom quickly attracts the attention of the authorities as well. Detective Jakab Strang is given the task of arresting the wayward dearly departed.