Alexander Hollingsworth III is a millionaire's son, who has trouble managing his estate. So, his father decides to cut him off, so that he might be able to stand on his own. But a year later things are not going so well for him; he has amassed a great debt and is being pursued by the IRS. When an FBI agent, Ed Smith, needs to get into his inner circle so that he could get a devious businessman who is into all sorts shady activities. He offers to help Alex with some of his financial problems and his problems with the IRS, in exchange for being a government informant. Alex says yes because the man once burned him.