Billy (Wallace Ford) is a thief and con man in Los Angeles. He picks a drunk's pockets and finds an acceptance letter for a job working at a bank. Billy takes the letter and gets a job as the bank's manager, hiring a group of criminals to work there -- i.e., to rob the vault. Finding that the vault is empty, Billy hatches a scheme to solicit deposits, fill the vault and then steal the money. But Billy's plan becomes complicated when he is double-crossed and the police get involved.