It is October 31, 1985, and Halloween is here. Everyone is really excited of going over to Malcolm Richman’s Halloween party. His parents are rich, so he is throwing one at his mansion and boy are the students heading out to it. However, a student named Duncan doesn’t want his rival and his two friends there. He secretly makes fake invitations with the wrong address since the trio hasn’t been to Malcolm’s place yet. This causes them to head off to another mansion that is big, spooky, dusty, and filthy and has been empty since the 1930s. It once belongs to a greedy man named Mr. Moneybags and he loved being wealthy. The guy even did business with the mob to make his bank account bigger. But one day he and his butler, maid and chef along with the mob bosses' goons were kill when the police showed up when a reporter found out what Mr. Moneybags was doing and informed the authorities. Word is their ghosts haunt the place and that Halloween the three are about to learn the word is true.