The Phantom of Film City

Magneto travels to New York, seeking out the Fantastic Four. He uses his magnetic powers to break into the Baxter Building and challenges Reed for leadership of the team. Magneto battles Reed, and manages to defeat him, becoming the new leader of the Fantastic Four in the process. For the new team's first mission, Magneto claims that he has learnt that the City National Bank is about to be robbed, and after Reed insists that they follow Magneto's orders, the Four go to the bank and confound the robbers' plans by removing the money themselves for safekeeping. Magneto takes the money away himself to a secret location so the robbers will not be able to find it. After the rest of the team return to their base, Reed discovers proof that Magneto intends to keep all of the money for himself. He reveals that he only pretended to be defeated by Magneto in order to discover what he was up to. Now fully aware of Magneto's treachery, Reed once again commands the team into a battle with Magneto in order to discover what he was up to. Now fully aware of Magneto's treachery, Reed once again commands the team into a battle with Magneto in order to defeat him and return the money.