Feature version of the 1943 serial "The Masked Marvel", q.v., edited for television syndication and 16mm rental only.

In an unspecified Renaissance kingdom, no sooner has Anube's gypsy tribe encamped near Baron Tovar's village when Count Orso is found murdered. The wicked baron blames the gypsies and imprisons them all in his castle. Meanwhile, a mysterious stranger on a white horse has hidden the murder arrow and won the heart of gypsy belle Carla, to the discomfiture of her erstwhile fiancée Tonio. Baron Tovar is also fascinated by Carla...especially when he notices her heraldic pendant.

A team of two-fisted insurance investigators (one of whom disguises himself as The Masked Marvel) endeavor to discover and thwart the loathsome saboteur Sakima.

Ole Olsen and Chic Johnson are Broadway stars who return to Universal Studios to make another movie. The mere mention of Olsen and Johnson's names evacuates the studio and terrorizes the management and personnel. Undaunted, the comedians hire an assistant director and unknown talent, and set out to make their own movie.