The New Orleans urban legend is the second of the two stories in this video. It starts at 1:45.

The urban legend based in New Orleans tells of a pirate's treasure, and two men who went hunting for it.

The existence of buried treasure in New Orleans isn't a new idea. There's probably a lot of truth to it. One instance of two men who found one of the buried treasures leads to this urban legend.

This tale tells of a pirate tradition that when burying a treasure, a member of their own crew is killed, and their body left with the treasure. The soul of the crew member binds with the treasure to protect it until the pirate returns. The crew member's soul takes the form of a blue ball of light.

This particular story tells of two men working on a railroad near Lake Pontchartrain. A soft blue light appeared. The men followed until the light disappeared into the ground. Hearing of the myth, they knew they had found a lost treasure.

The men began to dig. When they got to the surface of the treasure, one of the men's greed became too much for him, as he struck his partner over the head, rendering him unconscious.

As he began to pull the treasure out of the hole, the ground beneath him began to sink. The more he struggled, the deeper he sank. This is when the knocked out partner awoke to hear his friend screaming as he was pulled into the ground.

Out of fear for sharing the same fate, he left the site. The next morning, he returned to the site to find solid ground, and their two shovels.

Obviously, he didn't want to chance it, so he walked away from his treasure hunt, swearing that he heard laughter mocking him.