In 1945 a group of victorious American officers discover a stash of German jewels and try to fence them in New York.

Ditzy police cadet Sissy goes undercover in a security prison to get the goods on World Famous Jewel Thief, Maggie. Once inside she uncovers a devious plot headed up by the wicked Warden.

Valentin is a criminal mastermind, but his exploits don't prove much in the way of satisfaction. Thus, he sets out on a one-man sailing trip around the world in a last attempt at finding meaning in his life. Meanwhile, in Morocco, a burned-out jazz singer named Jane is trying to forget a fizzled love affair. And so begins the journey of these two lost souls who are destined to cross paths.

An inspector and an insurance investigator both have a major stake in revealing the identity of an audacious jewel thief.