Thomas Morgan continues his quest for information regarding Miles Craven's schemes. His information leads him to Chicago, where Joseph Brockmeyer tells him the life story of Cole Cash, better known as Grifter!
After leaving home at a young age, Cash got mixed up with some small-time thieves. At a robbery gone wrong, Cash saved Brockmeyer's life and was subsequently pardoned so that he could join I.O. under Craven's command. He took so well to his training that eventually he was enlisted in Team 7.
Years later, when Team 7 had disbanded, Cash began working as a mercenary in South America. After returning home and dealing with his mother's death, Cash is approached by Michael Cray. The other Team 7 members had finally found a place to hide their children from Craven, but needed Cash's help.
Unfortunately, Stephen Callahan doesn't make it to the rendezvous, and is killed by Frank Colby and his team of Black Razors. Cash wanted to go in and fight, but was held back by Deathblow.
Cash is later attacked by Daemonites, saved by Zealot, and thus began his path towards WildC.A.T.s.
Brockmeyer's mention of Colby gives Morgan the lead he needed, and he goes off in search of the I.O. operative. After he is gone, Brockmeyer removes his mask, revealing that it was really Grifter the whole time.