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Black Snow season 2 episode 5 was released on May 15, 2025, on AMC+ in the United States. The penultimate episode, Money, is written by the show's creator, Lucas Taylor.
The episode delves deep into Sean's shady past, which James and Samara learn about from his laptop. It also contains documents proving Julie's illegal business activities with Sapphire Futures that are saved in an encrypted folder. Hence, Julie destroys the laptop to remove all incriminating evidence against herself and Sean that can make them the prime suspects in Zoe's murder.
Disclaimer: This article contains spoilers for Black Snow season 2 episode 5.
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Sean and Julie come under the scanner in Black Snow season 2 episode 5
While searching Sean’s laptop, Sam and James find the same na*ed picture of Zoe that he used to blackmail her with in the flashback scenes from episode 4. They also find tons of folders containing similar pictures of other women. Sam informs James that Sapphire Futures is a shell company. They look to prove their connection to Sean by speaking to Gita and Leo, who mention that Sean handled Mont Vista's taxes and helped get their systems online.
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After driving away from the detectives at the end of episode 4, Sean meets his mother at their special spot. He tells Julie that the laptop contains compromising pictures of Zoe as well as documents of fraudulent bookkeeping that he did at her behest, leaving Julie stunned.
Sam discovers that Julie and Sean were on the radar of the fraud squad for some time due to their allegedly shady business activities. She finds out that Sapphire Futures is registered in the British Virgin Islands, with the bartender Enrique J. Lopez as its director. Enrique is also the director of another company is linked to Sean, making it possible to prove Sean's involvement with Sapphire Futures.
Sam also hears back about the phone records. The calls were always made from Moorevale, except in 2019, when the caller was in Canberra. The only relevant person Sam knows to travel frequently to Canberra is Julie.
Meanwhile, Sean agrees to speak to James and Sam at the police station. He denies everything from secretly taking Zoe’s pictures to his links to Sapphire Futures. When they decide to pull out the laptop to confront his lies, the duo finds that fellow officer Matt Thorpe accidentally sent the laptop to be destroyed.
However, the truth is that Matt handed over the laptop to Julie. She goes through the laptop at home and finds incriminating evidence against Sean and herself, prompting her to destroy the laptop in a microwave.
Nadja and Leo deal with the latest revelations in Black Snow season 2 episode 5
When Leo finds out about the picture on Sean's laptop, he questions Julie whether she knew her son was blackmailing Zoe. She claims they were in love and that Sam is wrongly blaming Sean. Leo inquires about Sean’s whereabouts after the mother-son duo left Zoe’s birthday party.
Elsewhere, Nadja breaks down when James informs her that the DNA sample belongs to Zoe, confirming that she is dead. During her confrontation with Julie, she calls Sean a murderer and threatens to kill him. Later, Nadja reconnects with her son, Seb, telling him she showed up at his birthday party, but left after getting triggered by the lights and music. She promises to make up for lost time.
Sam locates Mandy Nielsen, Cody’s mother, who reveals that Brad was with her the night of Zoe’s disappearance. Zoe gave her $10,000 to help her leave the abusive Brad and start over in a new place. She tells Sam how the council had rezoned their land from rural to residential, leading to their eviction overnight and Cody's suicide.
Zoe receives her inheritance money in Black Snow season 2 episode 5
In 2003, Zoe is seen with her father and Julie as they talk to locals about Mont Vista. She learns from Gita that the man Julie bribed in episode 4 is a councilor who controls the local votes. She discusses her upcoming trip with Will and agrees to return for Christmas.
She tries to apologize to Sam by giving her a CD she made for her, but the latter is in no mood to forgive her best friend. Zoe tapes her last radio show, in which she reminisces about Cody and mentions doing what he would want her to do.
Sean confronts Zoe about stealing his camera and threatens to send her pictures to all their friends. Frustrated, Zoe complains to Julie about her son's behavior. She demands to delete the pictures from his laptop, but Julie refuses.
It is then that Zoe mentions how Julie bribed people to get the Mont Vista land rezoned. She threatens to go public with the information unless she complies. Not willing to let a teenager threaten her, Julie hits back by reminding Zoe that her father’s business will also shut down if she is exposed.
Zoe gets her inheritance money early morning on her 21st birthday and divides it into two separate bags. She hands one bag to Mandy and places the other in the trunk of her car.
She next meets Joseph at Xanadu to collect the packet of ecstasy he had promised her before she left. She mentions Julie’s bribery to Will, who urges her to speak to Gita, as only she can convince Leo. When she arrives at Gita’s place, she is shocked to discover Gita's affair with her dad, Leo. Gita begs her not to tell Nadja and promises to end the affair soon.
James finds Richie in Black Snow season 2 episode 5
James tracks down Richie’s car from the license plate number and waits near his vehicle to meet his younger brother. But when he approaches Richie, the latter runs away in fear. James tells his landlady to inform him whenever Richie returns. He picks up a used cigarette for DNA evidence and adds it to Richie's file in case something goes wrong.
After spotting his father on the street, James picks up a broken glass bottle and comes close to stabbing Tommy. However, he stops himself in time and walks away, using the bottle to hurt himself later.
James shows up drunk for his session with Dr. Nina and criticizes talking therapy by calling it a joke. The next day, he apologizes to Nina and opens up about his troubled childhood. He mentions how Richie ran away from him like he was some kind of monster. James shares that he used to lock Richie in a cupboard to protect him from their father’s rage and admits that he might have unknowingly caused more harm to his younger brother.
Watch all episodes of Black Snow season 2 exclusively on AMC+ in the United States.
