The story of “Money Train” revolves around foster brothers John and Charlie Robinson, who serve as transit cops patrolling the bustling New York City Subway. On a fateful Christmas, their routine takes a dangerous turn when they chase two muggers into a subway tunnel. Despite the nearby trains being halted, transit captain Donald Patterson allows the money train, which carries subway revenue, to continue its route. In a tragic twist, one of the teenage muggers is shot and killed by transit cops guarding the money train, igniting a fierce brawl between the officers and the brothers. Patterson, frustrated, blames John and Charlie for the delay of the money train.
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As the story unfolds, Charlie approaches John for money to buy a Christmas present. However, he instead uses it to settle his gambling debts with the mobster Mr. Brown. This decision plunges him deeper into trouble when Brown threatens to throw Charlie off a building if he doesn’t pay up. John learns that Charlie is $15,000 in debt and initially considers letting the mobsters take him. However, after a tense conversation, Mr. Brown accepts John’s promise to deliver the money in a few days, setting the stage for a high-stakes showdown.
Both brothers find themselves drawn to Grace Santiago, a newly assigned decoy transit officer. Their lives take a darker turn when a serial killer known as the Torch robs a token booth and sets it ablaze, endangering the booth attendant. John and Charlie heroically rescue the attendant and extinguish the fire, but the Torch escapes, leaving Grace vulnerable. John, conflicted about Charlie’s plan to rob the money train to pay off the debt, ultimately rejects the idea, but the temptation lingers.
While on patrol, Charlie discovers a grate in the train’s floor leading to a maintenance ladder that connects to Central Park. He proposes that New Year’s Eve would be the perfect time to rob the money train, as security would be minimal and the proceeds could reach up to $4,000,000. John reluctantly gives Charlie $15,000 to repay Mr. Brown, but Charlie’s luck takes a turn for the worse when he is pickpocketed and subsequently beaten by Brown’s men.
In a desperate attempt to catch the Torch, Grace disguises herself as a token booth attendant. However, the plan goes awry when the Torch realizes the trap and pushes an innocent man in front of a moving train, killing him. In the chaos, he attempts to set Grace on fire, but Charlie alerts the officers just in time. A fierce confrontation ensues, resulting in the Torch’s demise. Unfortunately, Patterson fires Charlie for ruining the ambush, and John is fired as well, leading to a significant rift between the brothers.
Later that night, Charlie faces further violence from Mr. Brown and his men, who threaten John’s life if the debt isn’t settled by New Year’s Day. In a bold move, John storms into Brown’s strip club, using his Kung Fu skills to defeat the mobsters and warn Brown to stay away from Charlie. With tensions high, Grace convinces John to intervene in Charlie’s robbery plan.
Charlie executes his plan by entering the money train from below, but as he attempts to escape with the money, he encounters a group of NYPD Mounted cops. John persuades Charlie to keep driving the train to avoid arrest, and they disable the brakes to prevent Patterson from stopping them. In a dramatic turn of events, the money train becomes a runaway, leading to a catastrophic collision with a passenger train.
With no brakes and the throttle jammed, the brothers make a desperate decision to throw the train into reverse to save the passengers. They manage to activate the reverse lever just in time, jumping to safety as the money train derails. When they arrive at the next station, they confront Patterson, who has been abusive throughout their ordeal. In a surprising twist, Grace arrests Patterson for endangering lives, leaving the brothers in disbelief.
As the New Year countdown begins, John and Charlie exit onto Times Square, ready to embrace a new chapter. However, John soon discovers that Charlie has a bag containing over $500,000, leading to a humorous yet tense argument