Criminal commissioner Hagen Walsken investigates the missing Anna Padberg, who fell into the hands of an insane clown. Only one woman survived this clown several years ago and has been silent in an institution since then. Hagen tries to question her anyway. But the chaos breaks out when the clown finds out where his former victim is now. Now he's more deadly than ever. But Anna remains missing.

Lilian Harvey plays a young heiress in long-ago France named Madelon who is raised by her grandfather as a boy in order to frighten away fortune hunters. But when the old man dies, her guardian Cesaire wants to marry her off to the rich prefect Barberousse. She is tricked by Cesaire with the portrait of a young man (Viktor von Staal) which is presented to her as that of her future husband. But when Madelone discovers this scheme she flees, again in men's clothing. But on her route to escape, she meets the young man from the portrait and falls in love with him. But Madelone can't give up her disguise right now...

Baroness Marika von Korossy dresses up as a man, in order to compete in a horse race. Her victorious horse, Satan, will only allow her to ride him and throws everyone else off of him. That includes the dandy lieutenant Tibor von Denes, who immediately recognizes that Marika isn't a man. It isn't long before he makes friends with her and even gets her to dance with him. It's then that Marika takes off her hat and shows she's a woman, which causes jealous Ilonka von Peredy to go into a rage. When Marika is forced to sell her estate to raise money, Ilonka is able to get Marika's beloved Satan.