The Ghost of Redbeard was the disguise of C.L. Magnus, the owner of a steamship line. Redbeard's Ghost is an old pirate with a red beard, hence the name. He seemed to enjoy the pirate role, including taking prisoners and chaining them up, or forcing them to cook for him. C.L. Magnus was stealing cargo from his own steamship line in order to keep it (and claim insurance on it) while disguised as Redbeard's Ghost, with two others disguised as his crewman. He needed the money to keep his business going. He was foiled by Mystery Inc..