Trapped

Stewart agrees to be released on an early parole as part of a staged jail break to keep him under supervision while he helps locate the counterfeit operation and the original plates. The plan hinges on him cooperating from inside, feeding information to the authorities. This setup launches the undercover pursuit.

Secret Service agents locate Stewart's girlfriend Laurie Fredericks in Los Angeles and bug her apartment. The surveillance is designed to capture conversations about the forgery and identify the players behind the operation. This elevates Fredericks to a central figure in the investigation.

Undercover agent John Downey, using the alias Johnny Hackett, becomes a regular at the restaurant where Fredericks works. He pretends to be a wealthy, shady suitor to win her trust. His presence propels the investigation into a real-world operation.

Stewart moves in with Fredericks and soon learns that his counterfeiting plates were sold to Jack Sylvester by his old partner. This revelation shifts the focus to Sylvester as the next link in the counterfeit network. The arrangement raises the stakes for Fredericks personally.

Stewart visits Sylvester and proposes buying $250,000 in counterfeit bills, hoping they will fetch a lucrative payoff in Mexico. He negotiates the price and asks for $25,000 cash as a stake to seal the deal. This meeting marks a move from inquiry to active trafficking.

The federal team overhears the plan and acts to keep their valuable asset safe by orchestrating a brief arrest of Stewart, then ensuring his release with Hackett's help. The staged arrest buys Stewart more time to pursue Fredericks and the money. The operation inside this web of surveillance grows more intricate.

Stewart leverages Hackett's potential for wealth, asking him to back the stake so he can win Fredericks' cooperation. Hackett agrees to push the plan forward, tying his own fate to the outcome. Fredericks remains unaware that Hackett is a cop at this stage.

Hackett's cover is blown in the restaurant when an old acquaintance recognizes him and Fredericks overhears a discussion of Hackett's résumé. The exposure destabilizes the arrangement and threatens the undercover operation. The moment foreshadows the imminent risk of exposure.

Realizing Hackett is a lawman, Stewart attempts to kill him but fails and ends up back in custody. The failed hit cements Hackett's need to push forward with the sale regardless. The partnership teeters on collapse as the net tightens.

Hackett chooses to push through the transaction quickly and drives to Sylvester's printing press location with Sylvester. The plan centers on delivering a large box of counterfeit bills while avoiding pursuers and keeping control of the operation. The moment transitions the scheme from planning to execution.

At the printing site, a large box of bills is handed to Hackett, but Fredericks arrives with Sylvester's employee, blowing Hackett's cover again. The double exposure leads to a chaotic confrontation as the stakes rise. Ripples from the exposure threaten the entire operation.

A motorcycle officer identifies Hackett's car, and the call helps the agents locate the warehouse. The pursuit intensifies as backup closes in and the raid is prepared. The investigation races to a climax as the warehouse is surrounded.

Inside the warehouse, Sylvester shoots Fredericks, then turns his gun on Hackett. Hackett flips a table and escapes as police flood the scene. A chase spills into a nearby streetcar barn, where Sylvester is electrocuted, ending his pursuit.

With Sylvester dead and the counterfeit operation exposed, the case is declared closed. The authorities conclude the source of the plates has been eliminated. The film ends on a note of victory for the law, albeit with the human costs endured.