Frank, portrayed by James Caan, is a seasoned jewel thief with a well-structured life shaped by his past as a hardened ex-convict. He operates his lucrative criminal activities under the guise of legitimate businesses—a bar and a car dealership in Chicago. However, beneath this veneer of normalcy lies his yearning for something more profound—a family. This aspiration begins to materialize with his romance with Jessie, played by Tuesday Weld, a charming cashier he has recently started dating.
After executing a significant diamond heist, Frank entrusts the stolen gems to his fence, Joe Gags. But tragedy strikes when Gags is gruesomely murdered, pushed from a twelfth-story window for skimming mob money, thus interrupting Frank's plans to retrieve his hard-won $185,000. His friend and associate Barry discovers that a shady executive named Mr. Attaglia is involved in this sordid affair and responsible for Gags' untimely demise. Fueled by a desire for justice and his rightful payout, Frank confronts Attaglia at the plating company where this betrayal takes shape.
This tense confrontation sets the stage for a more nefarious entity to emerge—Leo, a powerful Chicago Outfit boss, portrayed by Robert Prosky, who is intrigued by Frank’s skills and wants to recruit him into his criminal enterprises across the country. During a clandestine meeting filled with veiled threats and tangled jargon, Leo dangles the promise of wealth before Frank, suggesting he could make him a millionaire in just four months. The stakes rise as Frank grapples with the implications of such an alliance, wary of increased exposure and power struggles.
However, a chance emotional connection with Jessie at a coffee shop ignites a shift in Frank's perspective. As he shares harrowing stories of survival from his prison days, Jessie expresses her desire to be part of his life, which compels Frank to take a leap of faith and agree to work for Leo—albeit supposedly for one last job. This decision quickly escalates, leading Frank into a world filled with duplicity and danger.
As Frank maneuvers through this treacherous terrain, even the adoption process becomes a part of his scheme; with Leo's assistance, he acquires a child, whom he names David, in honor of his cherished mentor from prison. But with this new familial vision comes an avalanche of criminal complications that threaten to snuff out the life he’s aiming to build.
The narrative intensifies as Frank embarks on a grand diamond heist, hoping for a significant payday. Yet, upon his return, he is met with disappointment when Leo informs him that only a fraction of his earnings is available—less than $100,000, with the rest funneled into shopping centers without his consent. Enraged by this betrayal, Frank firmly decides to sever ties with Leo, declaring, "You will wear your ass for a hat" if he does not receive the remainder of his money within 24 hours.
Unbeknownst to Frank, Leo's henchmen lay in wait for him. In a tragic twist, Barry becomes the victim of this conspiratorial web, murdered at the hands of one of Leo's enforcers while Frank is knocked unconscious and taken prisoner by Leo’s crew. Awakening to a nightmare, Frank learns that Leo has usurped control over every aspect of his life, threatening to harm Jessie and their child if he resists. Stripped of hope and agency, Frank descends into a bleak state, ultimately pushing Jessie and their baby away for their safety.
Emboldened by desperation and rage, Frank takes drastic measures, orchestrating fiery explosions to obliterate their home and even his own businesses—an act of defiance against both Leo and his past. Armed and dangerous, he confronts Lula in a violent showdown, ultimately tracking down Leo in a chilling confrontation of vengeance. The film’s climax sees Frank emerge from this chaos, a figure marked by bloodshed yet determined to reclaim his agency, walking away into the darkness of the night with a resolve forged in the fires of betrayal and loss.
