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The Fiendish 5 are a group of 5 master criminals each with a particular skill whose goal was to conquer the coopers.
They did this and Sly was the only living member after attack. They took The Thievius Raccoonus and split each going their own direction. Unlike like the succeeding group of villains, The Klaww Gang they each joined for their own purposes and only thing that united them was their hate of the Coopers.
Fall of the Fiendish 5
When Sly found out where Sir Raleigh was, Sly beat him and took the book. He then went to each member's location and claimed back the pieces of his heritage.
The final person he faced was the mysterious Clockwerk whose criminal skills and power proved to be great. And Clockwerk only fell do to the combined effort of Sly and Carmelita.