Two detectives, Jack Welles (Matt Dillon) and Eddie Hatcher (Jay Hernandez), investigate a daring heist by a group of well-organized bank robbers. The crew, led by Gordon Cozier (Idris Elba), consists of John (Paul Walker), A.J. (Hayden Christensen), and brothers Jake (Michael Ealy) and Jesse (Chris Brown) Attica. The crew is without a former member, Ghost (T.I.), who was caught during a previous robbery 5 years ago. In his absence, Jake has begun a relationship with his former girlfriend Rachel Jansen (Zoe Saldana), who has accepted his proposal for marriage.

Ghost surprises the crew after getting paroled. He insists he harbors no ill feelings toward the crew for abandoning him and draws them into a heist of an armored car for a $30 million dollar payoff. Meanwhile, Welles begins to zero in on some of the members of the crew and comes up with evidence that a second heist is in the making.

The heist does not go as well as planned, though the crew manages to make off with the money. Detective Welles spots Jesse during his getaway via the subway and pursues him on foot. A protracted chase ensues during which Jesse is cornered and he is forced to shoot Detective Hatcher in his escape. Despite his partner's best efforts, Hatcher dies from his wounds.

Jesse reconvenes with the rest of the crew at a hotel room and admits to the shooting. Russian gangsters immediately storm the room and attempt to gun down everyone present except for Ghost, who earlier snuck out through a window. Ghost had previously cut a deal with the Russian gangsters to kill his former crewmates in exchange for half of the heist's take. A.J. dies in the ensuing firefight but Jake manages to kill the Russians. Jake and Jesse return home where, to his horror, Jake finds Rachel's lifeless body. The police surround their home and the two decide to commit suicide by cop.

Gordon and John separate to make their escape but realize Ghost intends to take all of their money, which is being held by Scott (Johnathon Schaech), a well-connected fence. Ghost sneaks onto Scott's private plane and kills him, taking their laundered money in two large suitcases. Gordon and Detective Welles arrive and a three-way Mexican Standoff results in which Ghost hits both Gordon and Welles. As Ghost prepares to finish off Gordon, John arrives and shoots him dead. He and an injured Gordon take the money and drive off. A gravely-wounded Welles manages to call 911 for help on his cell phone.

As John and Gordon drive off, Gordon notes that "Things are looking up." The film ends without revealing whether either Gordon or Welles survive their injuries.