A thug is convicted and undergoes experimental brain surgery to remove the criminal element in his brain. The operation wipes out all memories of his past life, including where he stashed the loot. He is abducted by his gang and they try to beat the truth out of him. His memories return in the form of weird dreams, and he and his old girlfriend track down the clues to find the money

Comedy-mystery finds Detectives Kelly and Dempsey trapped in a deserted lighthouse with a group of strangers who are being terrorized by a killer octopus AND a mysterious crime figure named after the title sea creature.