Christian Longo, portrayed by James Franco, is an Oregon man who finds himself in a horrifying situation after the brutal murders of his wife and three children. The police arrest him in Mexico, where he has been misleading people by pretending to be a reporter for the New York Times named Michael Finkel.
Meanwhile, in New York City, we meet Michael Finkel, played by Jonah Hill, an ambitious journalist whose life takes a drastic turn when his editors accuse him of fabricating a story published on the cover of the New York Times Magazine. Unable to defend his actions, Finkel loses his job and struggles to find new opportunities in journalism, especially with the stain of his public firing looming over him.
Finkel's luck seems to change when a reporter from The Oregonian contacts him regarding Longo's case and his troubling appropriation of Finkel's identity. Intrigued, Finkel decides to reach out and meet Christian Longo in prison. During their first encounter, Longo professes his admiration for Finkel's writing, expressing that he has followed his career closely. In a rather peculiar arrangement, Longo agrees to share his side of the story in exchange for writing lessons and a promise from Finkel that their conversations will remain confidential until after the trial concludes.
As Finkel delves deeper into the case, he becomes captivated by Longo's charismatic yet ambiguous nature regarding his guilt. Finkel dedicates himself to understanding Longo and even corresponds with him extensively, receiving numerous letters as well as an intriguing 80-page notebook titled "Wrong Turns," wherein Longo documents his life’s missteps. The two men start to draw unsettling parallels between their lives, reflected in their handwriting and shared experiences. As the trial date approaches, Finkel begins to entertain the possibility that Longo might not be guilty after all, leading Longo to express his intentions of pleading not guilty.
In a dramatic courtroom scene, Longo indeed pleads not guilty to two murders but, shockingly, accepts guilt for the murder of his wife and one daughter. Finkel confronts Longo about his evasiveness, while Greg Ganley, a detective involved in Longo's case, warns Finkel of Longo's manipulative tendencies, urging him to disclose their correspondence. However, Finkel stands firm in his loyalty to Longo.
As the trial unfolds, Longo gives a detailed account of the tragic events he claims transpired one fateful night. According to him, after a violent argument over finances, he returned home to find two of his children missing and his wife in a deeply distressing state. In a fit of uncontrollable rage, Longo describes how he strangled his wife, believing she had caused harm to their children.
Amidst the tension, Finkel’s wife, Jill, watches in horror as Longo spins his tale. As the jury deliberates, she confronts Longo in jail, condemning him as a narcissistic murderer incapable of breaking free from his heinous identity.
Ultimately, Longo is found guilty on all counts and receives a death sentence. Following his sentencing, he brazenly winks at Finkel, leaving Finkel seething with fury upon realizing he has been played like a pawn in Longo's game, his trust exploited for Longo’s advantage. In their subsequent meeting on death row, Longo spins yet another narrative, claiming memory loss regarding the murders, but Finkel, now filled with determination, vows to expose Longo’s deceit.
In a poignant public appearance promoting his book, "True Story," Finkel is haunted by the presence of Longo in his mind, despite the distance between them. The final moments reveal the chilling truth: a year later, Longo confessed to the crime of murdering his whole family. Although Finkel never regained his position at the New York Times, Longo has continued to write articles from death row, even contributing to some prestigious publications. The film concludes with the eerie note that Finkel and Longo maintain contact, speaking on the first Sunday of every month, a testament to their twisted relationship.
