Scientist Waldo Sampson has discovered how to manufacture cheap
synthetic diamonds that are nearly identical to the real thing. When Sampson disappears, Police Inspector Mike O'Hara turns to Gay Lawrence (aka "the Falcon") for help. Lawrence is about to fly off with his long-suffering fiancee Helen and turns down O'Hara. Jewel thief Rita Mara is part of the gang who abducted Sampson for his formula. She tries to recruit the Falcon, and when he declines he is taken at gunpoint. He escapes, tracks Waldo Sampson to a hotel and breaks into his room where he finds Waldo's twin brother Herman dead. The police arrive and assume that it is Waldo. To find Waldo, the Falcon allows himself to be abducted again, this time with his sidekick, Jonathan "Goldy" Locke, following. He is taken to a warehouse where Rita's accomplice Max is holding Waldo Sampson. Max and his henchman Dutch go to meet Meyer, a buyer for the formula, leaving Rita and henchman Needles with Waldo and the Falcon. Having been alerted by Goldy, the police arrive, and the Falcon slips away with Rita. She now believes Max plans to double-cross her, and that the Falcon has thrown in with her. Rita and the Falcon interrupt the meeting between Max and Meyer. Rita shoots Max, Dutch escapes, the Falcon phones the police, Meyer knocks out the Falcon. Rita and Meyer discover that Max doesn't have the formula so they go after Dutch. O'Hara arrives and arrests the Falcon for the murder of Max. At headquarters, Detective Bates brings in Rita, Dutch, Needles and Meyer, and the Falcon is exonerated. O'Hara is about to remove his handcuffs, but Helen wants them left on. She leads him away and they finally catch their plane. ==Cast==