Based on "The Dark Eyes Of London" By Edgar Wallace it tells the story of Scotland Yard inspector Larry Holt (Hugh Williams) who is asked to investigate the case of five bodies that have been found in The Thames apparently drowned, during the last eight months.
The investigation takes him to the Greenwich Insurance Co with whom many of the dead held policies.
This is run by Feodor Orloff (Bela Lugosi), a former doctor who was driven out of his profession and deemed insane by many of his colleagues.
Clues lead Holt to Dearborn’s Home for the Destitute Blind where each of the policy holders have made charitable donations upon Orloff’s request. There Holt comes to believe that each policy holder is being murdered for their money.