Racketeer Nick Shelton has one of his partners stage a collapse in an investment firm and makes off with half a million dollars worth of bonds in an ambulance.  Following an unsuccessful nationwide hunt, Nick sets up an office on Wall Street in order to swindle money out of Park Avenue's wealthy.

One night in a club, he meets a beautiful European pickpocket, Stephanie Duval, and takes her into his gang as bait for his male victims.  The day she and Nick are scheduled to leave for Denver to meet a prospective bond buyer, Stephanie visits Charles Fitzgerald, a private investigator who brought her from Europe to help bring down Nick.  Fitzgerald holds her passport photo and a letter, which is the only evidence of her secret identity.

Nick follows Stephanie to Fitgerald's and after killing him, steals the letter, but inadvertently drops her photo near Fitzgerald's body.  In his plane, Nick tells Stephanie he knows she's a "copper." While stopping for gas, Nick's pilot, Herman Valentz, sees Stephanie's picture in the paper linking her to Fitzgerald's murder.  Nick, showing her the letter, forces her to go with him to Canada.  The plane crashes, however, and the letter burns.  The three are rescued by Doctor Scott Logan, on vacation in a cabin with his cook, "Ote."

While Nick and Herman recover from being knocked out in the crash, Scott and Stephanie fall in love.  Although Nick watches her closely, she eventually tells Scott her story, and he is resigned to help her.  Nick makes an attempt to kill Scott out of jealousy, but Ote, who read about Nick and Stephanie in the paper, arrives just in time with the rangers, who arrest them.  Scott's lawyer, Franklin Webb, defends Stephanie throughout the trial, but she is found guilty, along with Nick.

The day they are to die by electrocution, Scott asks the warden to have Stephanie taken to the electric chair first, but not killed, in order to force a confession from Nick.  The scheme works, and Stephanie is saved and released into Scott's arms.