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On the trail of a gang of counterfeiters who are planting phony money on the patrons of a Los Angeles-based gambling ship owned by Dave Reeves, secret service agent Conway poses as a bouncer and is hired on as a member of the crew. Conway's plans soon go awry, however, when his partner, Melvin Pierce, is exposed as a government agent and Reeves orders him slain and his body thrown overboard. In an effort to escape the law before the murdered man's body is washed ashore, Reeves clears the ship of all passengers and heads out to sea beyond the three mile limit. The open seas offer Reeves no sanctuary, however, when Reeves's crew mutinies. After the fuel runs low, Conway, Reeves, Captain Bailey and Jimmy Rothacker, a mysterious playboy, take the ship's dory and land at a Central American coast, where Bailey assures them that they will find sanctuary with Van Cleve, a wealthy rug dealer. Conway soon recognizes one of Van Cleve's rug designers as a counterfeiter, and realizes that Van Cleve is the power behind the counterfeiting ring. Conway confides his suspicions to Jimmy, who then admits that he is a reporter working on the counterfeiting story. Jimmy, sensing an impending danger, sends Dorothy Kenney, a reporter writing the story of Van Cleve's life, for outside help. Shortly thereafter, Reeves confesses to Conway that he killed Pierce and swears that he is not involved with the counterfeiters. Conway's cover is exposed by one of Van Cleve's men, a designer who recognizes Conway as a government agent. Van Cleve then locks Conway, Jimmy and Reeves in a room and sets fire to the house. Reeves is shot while trying to escape, but Dorothy arrives with the authorities in time to save Conway and Jimmy. As Van Cleve and his men are arrested, Dorothy admits that she has wired the story back to the United States with Jimmy's byline, thus prompting Jimmy to propose to her.