Undersover magazine reporter Ann Mason is able to infiltrate a neo-facist organization that recruits disgruntled war veterans with a paranoiac populist message that views both labor and management as enemies. She becomes secretary to the organization's leader, True Dawson, a smooth-talking con artist who uses the member's dues and the organisation's manpower for his own nefarious ends. Fred Stalk, one of Dawson's enforcers, suspects her motives but lack of evidence and his attraction to her keeps him from acting against her. While en route to break her exposé, Ann's taxi is pursued by government agent Steve Fuller, and the resultant crash leaves her with a concussion and loss of memory. Fuller uses the opportunity to convince her he's her fiancé and gains access to the racketeers.