An ambitious reporter, investigating a senator’s assassination, realizes witnesses to the shooting are systematically dying and discovers a multi-million dollar corporation which serves as a front for the recruitment of political assassins.

Peter Ustinov stars as the eponymous wraith, who returns to Earth to aid his descendant, elderly Elsa Lanchester (Stowecroft). The villains want to kick Lanchester and her friends out of their group home so that they can build a crooked casino. Good guy Steve Walker (Jones) gets caught in the middle of the squabble after evoking Blackbeard’s ghost.

Dexter Riley is a science student at Medfield College who inadvertently invents a liquid capable of rendering objects and people invisible. Before Dexter and his friends, Debbie and Richard Schuyler, can even enjoy their spectacular discovery, corrupt businessman A.J. Arno plots to get his greedy hands on it. Slapstick hijinks ensue as Dexter and his pals try to thwart the evil Arno before he can use the invisibility spray to rob a bank.