A society grand dame, played by Gladys Cooper, who hosts charity parties in her home is mixed up in a jewel theft racket which defrauds insurance companies. When another socialite played by Lucile Gleason is murdered, Gay Laurence (a.k.a. The Falcon) and assistant `Goldie` Locke are on the case with help from beautiful Helen Reed, who becomes a rival to Gay`s fiancée Elinor for the sleuth`s affections.
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