Conan believes that Kaitou Kid has nothing to do with the case. Conan figures out the trick thanks to Takagi and reveals the painting was never stolen. He reveals the culprit set this up for murder and tried to blame it on Kaitou Kid. Afterward the culprit was arrested. Later on Conan meets Kaitou Kid; he revealed he was in disguise to clear his name, who then escapes out the window. (thetvdb.com)