**SPOILERS** Tough guy George Raft is fugitive from the law Johnny Rock who's now on the lamb as the genteel and soft spoken hotel florist Johnny Allgero trying to live his life on the straight and narrow. That's until Johnny runs into, while delivering flowers, mystery woman Glenda Chapman, Nina Foch, who's being tracked down by the US Treasury Department. Not at first knowing what he's getting himself into, in his involvement with Glenda, Johnny is soon contacted by US Treasury Agent Schulty, Will Green, who fills him in on all the details.
It seems that Glenda's husband Morgan Vallin, George MacReady, together with his Commie secret agents is in the process of destroying the US economy by passing off as much as a half billion dollars in counterfeit money while playing the horses at the local, Hialeah & Gulfstream, Florida racetracks. This gets real serious, which is why the US Government is now taking a keen interest in it, in that Vallin is in fact, even though it's not mentioned in the movie, a paid Soviet Agent himself who's working for the NKVD to undermine with his two Soviet controllers Vetch & Gote, Ivan Triesdault & Walter Rode, the US currency exchange by devaluation the US Dollar in flooding the country, as well as the world, with fake US currency! It's now Johnny's job, like it or not, to stop Vallin and his Commie friends from passing hundreds of millions of fake US dollars through racetracks and casinos by getting in good with him and finding out where he has the phony money stashed! If Johnny succeeds he's get a pardon from the President that will have his sentence of ten years behind bars, at Sing Sing Prison, reduced to time served!
Johnny using his wit charm as well as tough guy good looks soon get's Glenda to see things his way in going against her scare-faced husband Vallin and his gang who was keeping her in the dark about what his sinister motives are. Glenda thought that he was just a run of the mill Hollywood type gangster not a Communist Agent planing to destroy her, as well as 150 million other Americans, way of life!
Even though George Raft was in his mid fifties at the time he did look and act convincingly, as Johnny Allegro, as the no BS sh*t-kicking though guy that we all got to know and love in his younger days in the many previous gangster films he stared in. We learned earlier in the movie that Johnny while on the lamb from the law did his patriotic duty by joining the O.S.S, predecessor to the C.I.A, and US paratroopers, while in his late 40's, to fight the Japs in the Pacifc! That despite the fact that Johnny was a fugitive from the law at the time that he did it!