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Lindsay Leikin is sitting on a bench at the police station when she is spotted by Shawn. He thinks she is just a random person who's there to report a crime, and since he's attracted to her he introduces himself as a psychic. She says she's sceptical, so Shawn 'divines' that she just started playing the guitar, which he knows thanks to the calluses on her finger tips. Lindsay says she's impressed, and Shawn only realizes what a fool he's made of himself when Special Agent for the Federal Treasury Department Lars Ewing introduces her as his psychic sidekick in a meeting with Chief Vick. He and Leikin have come to Santa Barbara hot on the trail of counterfeiter Steven Grabinski, and although Lindsay has only just started working for the department, Ewing says she's already a superstar because they only missed Grabinski by five minutes in Wilmette, IL thanks to her efforts. Ewing sets up a Home Depot meeting at 7AM the next day, as that is where Grabinski was last spotted laundering money. As everyone leaves Vick's office, Lindsay tells Shawn that she knows he's a faker and will enjoy exposing him for the fraud he is.

Outside Home Depot the next day, Shawn overhears Ewing lament to Lindsay that he went to meet her at her hotel half an hour earlier and that she breached protocol by not being there. Once inside, Shawn and Gus go to see security guard Garrison to watch yesterday's CCTV footage, only to be told that Lindsay had already been there the previous night and failed to make a positive ID.

They rejoin the rest of the group, who aren't getting anywhere thanks to the cashier's bad memory. However, Lindsay suddenly divines that Grabinski has a three-inch scar on his jaw line and a single stud diamond in his left ear, which the cashier excitedly confirms. Lindsay receives kudos from Ewing and Vick, and Shawn and Gus are left frustrated.

At Henry's house, the duo figure out that Grabinski must have gone to the Saladin Motorworks car dealership to launder some more money, but when they arrive they find they've once again been outpaced by Lindsay. It turns out that Grabinski had paid $47,000 in counterfeit bills for a used Lamborghini, which was seen driving just out of town near Goleta, and then returned it the next day for $26,000 in real money. However, Shawn notices that one of the bills was actually real and now finally knows something Lindsay doesn't. When Shawn presents this information at the station, Ewing admits it's the best lead they have and goes with Shawn's theory that the reason one real bill was included is because Grabinski is running out of counterfeit bills. The logical conclusion is therefore that Grabinski is currently at a remote spot in Santa Barbara where he can print out as many counterfeit bills as he wants without the noise raising suspicion.

Lindsay visits the Psych office that evening to congratulate Shawn on his huge get, and takes him up on his earlier offer to work together. They brainstorm ideas for where Grabinski might be, and Gus remembers a hotel on his pharmaceutical route that would be perfect hiding spot, so that's where the gang goes next. They figure out what room Grabinski stays in with hotel clerk Norman's help, but when they barge in they find his room empty. However, it's clear Grabinski used a lot of paper. Lindsay says that Grabinski printed around $50,000 worth of bills and calls Shawn's later guess of $500,000 impossible, although he turns out to be right.

Back in the lobby, Lindsay tells Shawn that they make a good team and invites him back to her hotel room, where she admits she feels a real connection with him. They sleep together, but the next morning Shawn wakes up alone. He thinks Lindsay tricked him and just wants all the credit for herself, so he calls Gus to find out where everyone is. When they finally join the rest of the group, it turns out Grabinski was shot dead. The case looks wrapped up.

However, Shawn had seen a Goleta Gulp coffee receipt in Lindsay's hotel room, and then visits Ewing's stenographer Mildred to confirm that she told Ewing at Home Depot that she wasn't at her hotel because she went to get coffee. Shawn puts together that Lindsay was in cahoots with Grabinski the whole time, which is how she could know so much about him and his appearance. She first met him in Wilmette, but instead of alerting Ewing she joined Grabinski in his scheme, while also becoming his lover. They met up again in Goleta, which is why Ewing missed her at her hotel. When Lindsay found out in Grabinski's hotel room that he had printed much more than the $50,000 they agreed on, she figured he was going to betray her and killed him. She then cleverly pretended she needed to touch his dead body at the crime scene to cover up her involvement in his death.

He and Gus go to confront her at the airport, but she pulls a gun on Shawn. Mildred pushes her wheeled suitcase into Lindsay's legs and knocks her off balance, allowing Ewing to take her down. Lindsay's arrest is processed in Santa Barbara before she's put back on a plane to Washington, D.C. to be incarcerated.

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