Two Internet nerds, Ed and Rusty, are on a scavenger hunt in one of Grand Central's train tunnels. When Ed finds a suitcase and unzips it, he uncovers a dead girl folded inside. Benson and Stabler come to the crime scene and think the victim was strangled. The detectives decide to take Rusty and Ed down to the SVU precinct for questioning.
Rusty and Ed are "geo-cachers" and were involved in a high-tech treasure hunt. Ed explains how someone plants something in the city and the "geo-cachers" have to find it. Both Ed and Rusty do not believe a dead girl would be a treasure. Benson and Stabler press Rusty for a name of the person who set up this particular treasure hunt. Rusty and Ed give up the name, "The Master Baiter."
Benson and Stabler do some Internet research to find The Master Baiter. They are able to get a lead on where The Master Baiter's site is updated: a warehouse food store called the Grocery Gulch. Benson and Stabler reach The Master Baiter over the intercom at her work. Benson and Stabler find Cat, The Master Baiter, who says that there wasn't a dead girl in a suitcase when she went down to the tunnel. Benson and Stabler have Cat show them her tape and during her first take, a train comes by and someone throws the suitcase onto the tracks.
Benson and Stabler get the train number and Fin reveals who the Jane Doe is: Emily Keefe. Emily was on her way to Tampa, Florida and was a passenger on the train. Benson believes the perp killed her on the train and then tossed her aside. However, Fin brings up that Emily was riding in a private room, which is an old school way of traveling and seems suspicious.
Benson and Stabler go to Emily's parents' home in Connecticut. Emily's father, Don, asks if the detectives found Tank, Emily's dog. Emily never went anywhere without her pup. Unfortunately, Benson tells Don she has a positive identification on Emily, but there is no dog. Emily's stepmother, Tanya, tells the detectives how heartbreaking it is for Emily's father and how Emily was always causing trouble. Tanya says how Emily was drinking and smoking and dating the wrong guys, until she met Owen. Owen was her boyfriend who worked on Wall Street but then got fired. Tanya tells Benson and Stabler that Emily was living with Owen on his sailboat.
Fin and Stabler go down to the boat yard to interview Owen Cassidy, Emily's ex-boyfriend. When Stabler flashes his badge, Owen makes a run for it. In the interrogation room, Owen is surprised when he learns Emily is dead. Owen says that he got scared when the cops came because he was smoking a joint. Benson presses Owen for information and Fin calls in and says that there were tons of cocaine stuffed on Owen's boat, but nothing belonging to Emily. Owen admits that he just got back from Florida after buying all the coke. He swears he didn't kill Emily. He tells the detectives Emily only lived with him for a week and then moved out.
Benson and Stabler find Emily's apartment and investigate. Tank, Emily's dog, is still at the apartment. Benson finds boxes from Tiffany's and cheap furniture; a very peculiar combination. Benson thinks Emily's new boyfriend is paying the bills. Stabler opens Emily's computer and sees the website "TastySugar.com." Here, Emily has a personal announcement that says she's ready to meet someone who is ready for excitement.
Benson and Stabler go down to investigate the company that owns Tastysugar.com. Lysette, the busty assistant, gives them a tour of the luxurious and progressive-thinking office. Lysette tells the detectives how the owner, Vance Shepard, wants the workplace to be "profitable and fun." Cosmetic surgery is part of the company's current health plan too. Vance, cheeky and confident, greets Benson and Stabler. Vance is aloof when Benson brings up Emily Keefe and her murder. He didn't know about Emily's death and the detectives believe one of Emily's clients may have murdered her. When Stabler asks for access to Emily's dating history, Vance declines due to privacy issues, but if SVU can get a warrant, he will agree.
Stabler decides to go undercover as a man seeking a date through Tasty Sugar. Pamela is one of the girls Emily used to double date with and Stabler is going to use her to get information about Emily. During Stabler's date, he learns from Pamela that Tasty Sugar is there to set rich men up with beautiful women in search of a "sugar daddy." Stabler asks Pamela about Emily and she says that Emily fell in love and stopped hanging out. Pamela doesn't remember the man's name, but did take a bunch of pictures. When she shows Stabler her camera, a picture of Vance and Emily comes on the screen. Vance had lied to the detectives.
Benson and Stabler bring Vance in for questioning. He claims he was having dinner with Lysette when Emily was killed. He confesses he didn't want to upset his ex-wife or daughter with his relationship with Emily. Vance admits that he was a lot more than Emily's sugar daddy, apparently he loved Emily. However, he broke up with her to see if she really loved him or if she only wanted his money. According to Vance, on the day of her murder, he broke up with Emily earlier in the day. Emily was upset. Vance gives the detectives very specific details and says that Emily left Vance's apartment at 3:45 in the afternoon.
Benson and Stabler check Vance's alibis. Everything checks out except for when the detectives question Vance's daughter, Chantel. Chantel tells Benson and Stabler that Vance didn't come to her soccer game, but stands up for her father and says that Vance is busy and that's why he didn't come. Chantel storms off when her mother, Joyce, tells Chantel not to stand up for Vance. Joyce claims Vance is selfish and mentally abusive.
In the interrogation room at the SVU precinct, Vance claims his ex-wife is unstable and a hypochondriac. Stabler tells Vance that he knows he didn't go to Chantel's soccer game. Vance claims he was upset about breaking up with Emily and that's why he didn't make it to the game. Just then, Dwight Stanitch, Vance's lawyer, shows up and brings Stabler a tape from Vance's apartment's security tapes. It seems as though Emily Keefe arrived at Vance's apartment, and then 45 minutes later, she exits.
Things start to get heated at the precinct when Sonya Paxton finds out Vance walked out the door. Benson says that his alibis all checked out. Paxton says the detectives should have pinned Vance for prostitution. Benson tries to argue that it's not prostitution nowadays. Paxton thinks Lysette, the secretary, is lying. Stabler, getting fed up with Paxton, dares Paxton to give it another try.
Paxton interrogates Lysette with no mercy. She sticks to her story the first time around, but Paxton questions her loyalty to Vance and tells the secretary that jail is the perfect place for beautiful liars with tight little bodies. Vance comes in at that moment and interrupts Paxton's interrogation. Back at the precinct, Lysette comes in and says she was lying for Vance. She claims Vance came late to dinner and he was upset and freaked out. Lysette shows Benson and Stabler the bloody shirt he gave to Lysette to dry clean.
A happy-go-lucky Vance is doing a group exercise at his company. Stabler and Benson break it up and arrest him. He tries to fight them on it until he sees that Lysette has told the detectives about the bloody shirt. In the interrogation room, Vance is upset and distraught and tells Stabler and Benson that Emily broke his heart. Paxton storms in and tells Cragen that Vance needs to get his lawyer. Paxton worries that Vance is distraught and the confession will be useless in court. Paxton and Stabler get in a heated argument, both calling each other names. Vance starts banging on the two-way mirror screaming his confession, "I did it. I killed Emily Keefe!"
In court, Vance pleads guilty, but Stanitch interjects and claims "not guilty." Vance keeps shouting that Emily is dead and it's by his own hand. Stanitch tries to confess that Vance was distraught and under emotional stress and that's why he killed Emily. Vance's wife Joyce and his daughter Chantel are in the courtroom and are obviously upset and angry. Paxton tells Benson and Stabler they need to look at the tapes from Grand Central to find Vance not looking distraught, in order to get a guilty verdict.
At the precinct, Benson and Stabler look through footage too but cannot seem to find Vance anywhere. Paxton lights up a cigarette inside and gets on Benson's last nerve. However, Benson, Stabler and Paxton put their bickering aside when Benson sees a shocking new discovery: the girl who was walking in Grand Central Station was not Emily; it was Chantel Shepard dressed in Emily's clothes.
Stabler goes to the prison and confronts Vance with the new evidence against Chantel. Stabler tries to convince Vance that even though Chantel might be mad at him for not being a good father, covering up Emily's murder isn't going to help. Meanwhile, Benson confronts Chantel and shows her the picture of her dressed in Emily's clothes. Chantel confesses to Benson that at Vance's apartment that day, Emily answered the door when she came to see her father. Chantel couldn't believe how young Emily was, and how happy Emily was to see her. That is when Chantel grabbed Emily's neck and strangled her. Vance tells Stabler that Chantel told Vance she did something bad. Vance then saw Emily lying dead on the ground. He couldn't forgive himself for creating this monster of a daughter and wanted to protect her. Vance instructed Chantel what to do with Emily's body. Chantel believes this proves her dad loves her.
Vance wants to see Chantel one last time, and Chantel runs in his arms, crying because the plan didn't work. Vance wants his handcuffs undone so he can hug Chantel. He goes out to hug his daughter and Chantel takes a pair of scissors and plunges them into Vance's neck. Stabler catches Vance and tries to stop the bleeding, but its too late. Vance bleeds to death on the ground. Paxton, Benson and Stabler are left horrified. Chantel has gotten her ultimate revenge.