Arlene Bradford (Bette Davis) is a spoiled, bored, wealthy socialite who finances her extravagant lifestyle by exploiting her fiancé Spencer Carlton's (Lyle Talbot) access to her stepfather's brokerage firm and using her connection to steal security bonds for crime boss Jake Bello (Irving Pichel).

When Arlene disappears, her step-sister Val (Margaret Lindsay) steps in to discover what happened to her with the help of society reporter Tony Sterling (Donald Woods) and photojournalist Izzy Wright (Hugh Herbert).

Bette Davis, anxious to portray the slatternly waitress Mildred in the RKO Radio Pictures production Of Human Bondage, accepted the relatively small role of Arlene in the hope her cooperation would convince Jack L. Warner to lend her to the rival studio for the film.

Her ploy worked, and when Warner received word about her dynamic performance in Bondage, he elevated her to top billing in Frisco.

In his review in The New York Times, Mordaunt Hall described the film as a "ruddy thriller" and wrote "What [it] lacks in the matter of credibility, it atones for partly by its breathless pace and its abundance of action.