Episode 5 of *Black Rabbit* bursts open with a haunting flashback to Anna's tragic demise. After the lawyer departs, Anna, seeking solace, decides to take a shower. Suddenly, the menacing loansharks arrive, attempting to engage her in conversation. Fear grips Anna's heart, and in a desperate bid to flee, she slips and crashes her head violently. Panic ensues among the loansharks, who scramble out of the apartment in a frenzy. In their haste to destroy any incriminating evidence, they set things ablaze, only for Junior to realize, amidst the chaos, that Vince's prized watch has vanished.
Cut to the present, and Jake, visibly shaken, demands answers for the state of his vandalized apartment. Meanwhile, Vince is preoccupied with a clandestine meeting with Jeffy. Roxie, seizing an opportunity, approaches Wes with a tantalizing business proposition: she wants him to buy out Jake's stake. However, Wes, bound by loyalty, vehemently refuses. When Roxie drops a bombshell about Estelle's secret affair, Wes, skeptical, accuses her of lying and storms off in a huff.
Back at the Rabbit, Estelle and Jake are abuzz, orchestrating the next high-stakes event—a dazzling diamond watches exhibition. It's revealed that the armed guard present during the heist was, in fact, security for the prestigious collection. Estelle, still reeling from the aftermath of their clandestine liaison, insists it was a grave mistake. A dejected Jake, moved by her words, agrees to step back.
In a parallel narrative, Babbitt, with an iron fist, coerces Junior into scouring Anna's apartment for the missing watch. Their search is abruptly halted as firefighters, alerted by Anna's shower running nonstop all night, arrive on the scene.
Shifting gears to Vince's nefarious scheme, we discover that Jeffy's cousin holds the esteemed position of fire marshal. Together, they hatch a plan to torch Vince's family home and cash in on the insurance money. Jake, sensing the gravity of the situation, tries to bow out. Just then, Estelle calls, her resolve wavering, and she has a change of heart about their relationship. Buoyed by this unexpected turn, Jake, riding a wave of euphoria, consents to the arson plot.
The scene then cuts to the police, meticulously investigating Anna's untimely death, their quest for truth unyielding.
As the Friedken siblings set about clearing out their old haunt, a wave of nostalgia washes over them, mingling with the haze of their intoxicated state. Amidst the laughter and shared memories, confessions tumble out—Jake admits to siphoning off $100,000 from the restaurant's coffers to sustain his opulent lifestyle. Their band had crumbled under the weight of Vince's overdose, which not only shattered their record deal but also their dreams. Jake feels a twinge of guilt for betraying Wes, but in a moment of solidarity, they all agree to take a defiant stand by setting ablaze their abusive father's house.
Meanwhile, Estelle attempts to sever ties with Wes, but he's too engrossed in his high-flying escapades with his friends to give her words any heed. Jules' lawyer, sensing an opportunity, decides to plant misleading evidence to throw the police off the scent.
In a parallel narrative, Jeffy manages to secure Vince's insurance payout. The brothers revel in the moment, celebrating with their children on what also happens to be Hunter's birthday. Gen's icy demeanor thaws slightly, and she offers to accompany Vince to a game.
Estelle, having reached her breaking point with Wes, begins packing her bags, much to his astonishment. She reveals her unhappiness and the lack of space for her in his life. Realizing Roxie might have been right all along, Wes accuses her of infidelity. Roxie insists her actions have nothing to do with Jake, but Wes is consumed by rage and agrees to Roxie's plan, whatever it may be.
Eager to put her plan into action, Roxie tries to approach Jake, but he becomes defensive and refuses to play along. Their interaction is abruptly cut short by the arrival of the police, who inquire about Anna. Assuming it's just a routine check following an accident, they play it cool, but Vince's fear is palpable as he tries to slip away unnoticed. Jake stops him, insisting he be present at Anna's memorial. Later, they face the loan sharks together to settle their debts.
However, the loan sharks have other plans. They kidnap Jake and Vince, intending to eliminate them to sever any ties to Anna's demise. Jake, confused at first, soon pieces together the puzzle—the three of them are somehow entangled in Anna's death.
Just as the loan sharks are about to pull the trigger, Jake mentions an upcoming diamond exhibition in two days. Babbitt, driven by greed, sees an opportunity and agrees to spare their lives if Jake aids them in stealing the priceless collection.
Vince, eager to make amends, offers his help, but Jake has had enough. He orders Vince to vanish, declaring that he'll handle the loan sharks and the exhibition alone. Once the loan sharks depart, the brothers engage in a heated blame game, culminating in Vince landing a punch on Jake. They part ways, each consumed by their own demons and regrets.
