After rehearsing for a benefit performance at the Los Angeles County Fair, Tony Blake spots a man being pummeled by two assailants. After rescueing him in his Corvette, Tony discovers that the victim, Albie Allikolos, is a horse breeder whose horse was recently crippled by an unknown attacker. Attending an outdoor party thrown by Albie that evening, Tony sees Albie shoot a creditor after a heated argument. Tony suspects a frame up, and, in attempting to vindicate Albie, uncovers an elaborate criminal horse racing scheme and finds his own life endangered.

After a magic class Tony Blake teaches, A carnival performer comes up to tell Tony about a little girl in his care--she seems to be upset about something. Tony discovers that the girl's father is in hiding for committing a murder he claims he did not commit. Tony discovers that the crime was really committed by a man named Malone-- and Tony arranges a trap in his magic workshop to trick Malone into making a confession.

Tony Blake fails to rescue Janet from the jail in which the kidnappers are holding her. Soon he finds himself caught between the kidnappers, who have put out a contract on Janet, and her own father, who thinks Tony's efforts to rescue her are actually interfering with her safe return. Tony eventually steals into the currency printing plant that the kidnappers have taken over and tries to devise a way to rescue Janet.