After being shunned yet again by the Science Hall of Fame, potential nominee Dr. Magneto decides to use his knowledge and mastery of magnetism against the world but finds Spider-Man stands in the way.
When Peter Parker and the rest of the press are denied access to the visiting Prime Minister of Rutania, Parker decides to sneak into the embassy as Spider-Man. There he stumbles across an evil imposter who's assumed the Prime Minister's identity so he can steal the 20 million dollars of charity money promised to the country of Rutania for himself.