Boston Blackie and his pal, The Runt, are ready to board a train for Florida when Blackie gets a telegram from his friend Arthur Manleder asking Blackie to go to Manleder's New York apartment, get $60,000 from a wall safe and fly to Hollywood. Blackie has just removed the money when Police Inspector Farraday and his assistant, Sergeant Matthews arrive and accuse him of robbery. They let him escape so they can follow as they think he knows something about the stolen Monterey Diamond. Blackie arrives in Hollywood and learns that Manleder has fallen for Gloria Lane, in cahoots with a gang of crooks, and had been holding the missing diamond in trust for the owner. Gloria had asked Arthur to let her wear the diamond and it was stolen. Two gangsters had appeared at the apartment and offered to recover the diamond for $60,000, which had prompted the telegram to Blackie. The two crooks also steal the money from The Runt. Blackie's plan to catch the crooks and recover the money and the diamond goes awry when another crook, Slick Barton, steals both from his two crook pals. Farraday and Matthews now arrive and accuse Blackie of both thefts.