Ivan Igor (Lionel Atwill) is the sculptor at a famous wax museum in London. When his partner, Joe Worth (Edwin Maxwell), burns down the museum for the insurance money, Igor is trapped inside. Years later he re-emerges in New York as the curator of a new wax museum, which boasts incredibly lifelike statues. When model Joan Gale (Monica Bannister) goes missing, however, reporter Florence Dempsey (Glenda Farrell) follows the clues to Igor's museum, where she discovers a terrible secret.