Drake Stone was an inexperienced wizard that practiced magic, only to bring himself fame and fortune by posing as a stage magician. When he was fifteen years old and without a family his original master left him for unknown reasons, leaving him with a copy of the Encantus which was how he was able to learn sorcery and to be a famous magician with a lot of fame and fortune throughout his entire life in spite of his "abandonment issues". He was later recruited by Maxim Horvath to help him retrieve the Grimhold. They both succeed when Drake disguises himself as Dave Stutler, attacked his mentor Balthazar Blake and retrieved the doll intact.
Back at his penthouse building in Manhattan, he was later betrayed by Horvath when he told him about the "Parasite Spell", a curse originated in Haiti and its purpose to transfer energy from one sorcerer to another. Horvath quickly used the spell on Drake and stole his ring, now imbued with Drake's magic also his life energy, and presumably dies.
The Disguise Spell (Transformation Spell) used by Drake Stone to deceive Balthazar.
Drake's magic and his life energy gets drained by Horvath, before the latter steals his ring.
In the film, his character was based on real-life Criss Angel.
When met Drake Stone for the first time, Dave Stutler asks if Drake was from Depeche Mode due to the former's look was reminiscent of early looks of Depeche Mode member Martin Gore.
In the early draft of the film, Drake Stone was not present, nor even a mention of sorcerer who posed as stage magician similar to him. Instead, his role as third Morganian encountered by Dave and Balthazar whom revealed Dave to be the Prime Merlinean was filled by a presumably centuries year old Egyptian sorcerer named Menmet-Ra. Menmet-Ra was released by Horvath and is sent to deal Merlineans as he opened the next layer that contained Chernabog. Menmet-Ra was eventually killed by Balthazar in the difficult fight, but not before revealing Dave to be Prime Merlinean that made him questioned his training's purpose. Interestingly, the penthouse where Drake stayed in the film was the same one Horvath lives in the early draft of the film.