Resourceful and engaging Fay Cheyney, posing as a wealthy Australian widow at a Monte Carlo hotel, befriends Mrs. Webley with the intention of stealing her pearl necklace, a plot devised by Charles, her butler and partner-in-crime. Complicating the situation are the romantic feelings she develops for Lord Arthur Dilling, Mrs. Webley's nephew. While taking the necklace during a party in the Webley home, Fay is caught by Arthur, who threatens to expose her unless she submits to him. Rather than compromise her principles, she confesses to her hostess, who plans to contact the police until Lord Elton, another guest, recalls Fay has a love letter he wrote her that could prove to be embarrassing to everyone present. They offer her money in exchange for the letter and her freedom, but when she destroys the letter and refuses their payment, they welcome her back into their social circle.
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