Back at SBPD, Juliet tells the guys about some research she did on Ricketts’s death. She discovers that Holloway was running the ride that night when Ricketts fell to his death. Back at the fest, the guys go looking for Holloway, but it turns out Holloway has been murdered on the log ride. The guys check the ride’s photo-cam, and they are shocked to see Johnny Ricketts riding in one of the logs.
At this point, the park has been shut down, and SBPD is now on the hunt for the murderer at the fest. Shawn and Gus run into Ken and ask him about Johnny Ricketts and if he thinks Holloway’s and Wayland’s deaths are linked. Ken tells them that they should look in the archives, as the park keeps everything on record. While there, Shawn discovers that Eve was also there the night Ricketts died, and that Holloway and Wayland made Eve falsify statements about the death of Johnny Ricketts. Then Shawn discovers that the park paid the Ricketts family off for his death. But then they see that another person was paid off by the park: a Jamie Emerson. Suddenly Eve shows up. Shawn tells Eve he knows about the payouts and the falsified statements. He questions her, but Eve gets scared and runs away.
Back at SBPD, they discover that there is no death certificate for Jamie Emerson. Jamie only has a California I.D. because she can’t drive due to an injury. This is where Shawn discovers that Jamie was there with Ricketts on the ferris wheel the night he died, and that she is the one who is murdering everyone who lied about Ricketts’s death. They immediately go looking for Eve because she is next to be killed. They find Eve and she admits that she has also seen the ghost of Johnny Ricketts. Then suddenly, the ride operator Carol shows up… Shawn immediately knows that she’s the murderer and that her real name is Jamie Emerson. Then Shawn puts the rest together: Johnny was trying to save Jamie’s life on the ferris wheel because her latch belt wasn’t properly locked. But it was Johnny who fell and Jamie who survived. The park never came clean about the accident publicly, and Jamie had to live with knowing Ricketts’s death was a cover-up for the last fifteen years. But Jamie wasn’t working alone… there was no way she could have ran the ride and killed Wayland at the same time. She had a helper. Shawn flashbacks to the moment he saw the ride operator, Carol (Jamie), texting with Todd, the fest’s guess-your-weight-guy. This leads him to believe that Todd was in on it. Shawn figures it out that Jamie and Todd dressed as Johnny Ricketts when they murdered Holloway and Wayland. Then suddenly, SBPD arrives and saves Shawn, Gus and Eve from nearly getting killed by Todd and Jamie.
In the end, Shawn finally tells Gus about him and Juliet dating. And much to Shawn’s surprise, Gus isn’t surprised at all to hear this news.