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With the "help" of the shifty Rollo (Nathaniel Taylor), Lamont (Demond Wilson) is able to purchase an expensive-looking monogrammed ring to commemorate his dad Fred's (Redd Foxx) 35th year in the junk business. Unfortunately, circumstantial evidence suggests that the ring is the same one recently stolen from Frank Sinatra. Convinced that his son has become a thief for his sake, Fred does some desperate covering up -- only to find that his grand gesture is futile.