They trace the cell phone Atlas took to an apartment in New York, and SWAT descends to secure the building.
The Four Horsemen destroy all evidence and get out in time, although Jack Wilder hangs back to clean up. Agent Fuller and Rhodes enter, find Wilder, and there's a Jason Bourne style improvised fight scene. Fuller's jacket is trapped so he can't help too much, and Rhodes gives chase when Wilder finally leaves the building.
Wilder jumps into a waiting car, while Alma Dray picks up Rhodes. They chase him across Manhatten, weaving in and out of traffic, until Wilder comes unstuck and smashes into the central reservation, flipping the car. Rhodes cannot get him out before the car goes up in flames.
From the evidence that was left, Rhodes can work out that the Horsemen were targeting a safe. He is relieved of leading the case, but stil advises on what they should do. They track down the safe's location but the room is empty. One of the Feds has been hypnotized to move it - and they give chase when a truck outside pulls away. They finally stop the truck - but can only find balloons and magic tricks inside the locked safe.
The remaining Three Horsemen have one last show at an abandoned warehouse, and crowds show up. After a few visual tricks and slight of hand, the team appear out on another roof top but Rhodes has been waiting for them. He opens fire from a distance, in a crowd, but somehow that's allowed these days and he misses anyway. The Three Horsemen jump off the roof and magically survive. Fake money rains from the sky. Meanwhile the real money from the safe appears in Thaddeus's car, who is soon arrested.
In jail, Thaddeus complains to Rhodes that he was framed and has an idea how they did it and finally pieces it all together -- the safe was in the empty room all along, just hidden behind mirrors, while Wilder is still alive and a clone car was crashed. He also knows now, somehow, that Rhodes was the mastermind.
Rhodes leaves and meets up with the Four Horsemen.
In France, Rhodes meets up with Alma to explain his reasons. His father died in an old Houdini underwater-safe trick, so he went after those responsible -- the safe company, the bank who wouldn't pay out, and Thaddeus for something he did that I missed. Alma forgives him, and that's about it.