American gambler Nick Cain (Raft) arrives at the town of San Paola, and befriends shoe-shine boy Toni (Staiola). He discovers he has been framed for the murder of an American Treasury agent. He escapes with Kay Wonderly (Gray) to an abandoned village, leaving her to hide out. Cain gets help from Massine (Goldner), whom he does not trust. He uncovers an international counterfeiting ring, members of which are responsible for the murder.