The partners of stage-producer J. J. Hobart gamble away the money for his new show. They enlist a gold-digging chorus girl to help get it back by conning an insurance company. But they don’t count on the persistence of insurance man Rosmer Peck and his secretary Norma Perry.
After Police Captain Dan McLaren becomes police commissioner, former detective Johnny Blake publicly punches him, convincing rackets boss Al Kruger that Blake is sincere in his effort to join the mob. "Bugs" Fenner, meanwhile, is certain that Blake is a police agent.