- After losing money she embezzled, a socialite borrows cash from a foreign "prince" who expects sexual favors in return.
- The story begins with an Argentine girl being introduced by her guardian, Lucy Hodge, to two men in Paris. The Argentine girl is Carmelita de Cordoba, played by Pola Negri. One of the men is an American, Dudley Drake, portrayed by Jack Holt. The other is an Indian prince, Prince Rao-Singh, and is played by Charles de Roche. As Prince Rao-Singh is more intense, Carmelita is more comfortable with Dudley Drake. Carmelita's father had wanted her to marry an old friend of his, so when Carmelita marries Dudley Drake, her father cuts her off from her inheritance. This does not stop her from living beyond her husband's means. Carmelita and her husband go to New York, where Dudley works for his uncle. Lucy suggests more and more extravagant ways for Carmelita to spend money, and Prince Rao-Singh, encouraged by Lucy, follows Carmelita to New York. There he continues to pursue her, and makes Dudley extremely jealous. Dudley lives in a small apartment near his office, but Carmelita lives in a large house on Long Island; Dudley visits Carmelita on the weekends, but Prince Rao-Singh and Lucy see her every day. At one point, Carmelta is trying to raise money for a charitable group, and auctions kisses. Prince Rao-Singh wins the auction, and Dudley is infuriated when Prince Rao-Singh kisses his wife in front of everybody. Carmelita's losses at gambling pile up, and at last, Prince Rao-Singh promises to pay her debts if she pays the price. She agrees, but after she pays her debts, Dudley completes a deal which makes them rich and makes himself a partner in his uncle's firm. He gladly gives his wife the money she has borrowed from Prince Rao-Singh, but when she tries to pay Prince Rao-Singh back, he tries to rape her, and brands her with his personal seal. She shoots him. When Prince Rao-Singh's servants enter the room, they discover Dudley with a gun in his hand over the body of Prince Rao-Singh. Dudley confesses to a policeman that he shot Prince Rao-Singh. In jail, Carmelita admits that she shot Prince Rao-Singh, but Dudley insists that she keep silent. At the trial, Dudley's uncle has hired an excellent lawyer, and Carmelita insists on admitting the truth and even reveals Prince Rao-Singh's brand on her back when she does so, the court goes crazy and there are cries of "lynch him," referring to Prince Rao-Singh. Dudley is declared innocent, and Dudley's uncle also manages to reconcile Carmelita with her father. This synopsis comes from the 1923 novel The Cheat written by Russell Holman and including stills from the 1923 film, based on the film.
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