Jessica Wells (Mary Astor) is a beautiful and talented actress, returning to the stage after a three-year absence. Although her triumphal return seems certain, family and friends are shocked when Vance (Louis Calhern), her long-lost husband with a criminal past, shows up at the family home. He immediately exerts his influence on the vivacious Jessica, and she becomes a sleepwalking automaton blindly obeying orders.
The avaricious and opportunistic Vance (who appears carrying pet mice in a cage) has heard that his wife holds half the rights to the play in which she will be featured, a prospective hit, but a certain disaster in her somnambulist state.
Stage star Damon Wells (Edward G. Robinson) lends theatrical prestige to his sister's comeback while helping to reclaim her talent as her acting coach. He and Jessica's manager (Ricardo Cortez) realize that the verminous Vance must be dealt with at once, so Damon begins an elaborate ruse, presenting himself to the schemer as the bearded French theatrical producer Jules Chautard.
Vance is lured to a hotel room by Jules/Damon, thinking that he will be paid handsomely for Jessica's half-interest in the play, but is instead drugged and then stabbed to death. Damon cannily covers his tracks in the murder, but he accidentally leaves a few theatrical mustache-whiskers when closing a Gideon Bible.
Police Sergeant William Curtis cracks the case when he connects the artificial hair to the art of an actor and confronts Damon in his dressing room. The detective, however, is aware of the suspicious past of the victim and not unsympathetic to the actor. Wells is left with the suggestion that he can perhaps act his way out of the rap.