The Crimson Ghost was one of the most entertaining of the Republic serials, filmed in 1946, immediately postwar, as The Scarlet Shadow. It was the highest budget serial of its time.
The unmasking of the Crimson Ghost is in the 12th chaper. Clayton Moore, who later played The Lone Ranger on TV, is a "heavy" -- a bad guy -- in this film and other earlier films. The mask in Lone Ranger hid his easily recognized face from fans.