Nothing is known of the criminal known as the Red Sage prior to his appearance in 1942.  Sending a series of agents to contact individuals in dire financial straits, the Red Sage offered himself as "The Lucky One", claiming he could read their fortunes.  To each he made the recommendation to buy stock in Amalgamated Rubber and expect great fortune.  In reality, the Sage had manipulated the stock price, expecting his patrons to become addicted to his "luck".

True to his prediction, those deceived by the Sage indeed became fixated on retaining their newfound wealth and felt compelled to cooperate when he asks them to commit crimes.  Days after his initial meeting, a banker robbed his own bank using one the Sage's men as a distraction.  Fleeing the scene, his racing car nearly collides with one driven by Kent Nelson.  Nelson quickly changes to his identity as Dr. Fate and gives chase.  Once captured, the criminals reveal the machination of the Red Sage and Dr. Fate vows to bring him to justice.  

The Red Sage, in the meanwhile, has gotten wind that Fate is after him.  Summoning those dependent on him, he arrayed them in costumes based on playing cards and armed them in anticipation of Fate's arrival.  He also activated a series of card-themed booby-traps to injure  the arriving hero.    Fate dodges the traps but is overcome by the weapons of the card characters who move to kill him.  One stops the group and points out that if Fate defeats the Red Sage, they can keep their wealth to date and be free of his extortion,  The group agrees and helps Fate locate the Sage.

Across town, the Red Sage and his goons are robbing an upscale club.  Before they can complete their crimes, Dr. Fate arrives and makes short work of the henchmen.  Cornered, the Red Sage admits defeat and leaps to his death out of a nearby window.  Fate departs, counseling those caught in the Sage's schemes to make good use of their new wealth (More Fun Comics #82).

No body was seen and whether the Red Sage truly died or returned again is unknown.