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While he is in Russia negotiating a loan with the government, Jack Colton (Robert Vaughn) helps Countess Olga (Jeanne Eagles) flee the country. Neither, however, has learned the name of the other. The ship that Olga takes to the U.S. is sunk by a submarine, and she winds up in a lifeboat with American Vera Ladislaus (Anne Gregory). Vera dies of exposure, but not before giving Olga some papers to be delivered to the immensely wealthy John Colton (Frederick Warde), who happens to be Jack's father. Olga poses as Vera and meets up once again with Jack. She has gotten involved with some Russians who don't have their people's best interests at heart. All through the intrigue involving this group and the repercussions of Olga's false identity, a romance develops between her and Jack. Eventually, the villains are unmasked, and Olga earns Jack's love for good.