A petty thief schemes a big score when he plans an armored car robbery.

Jobless sportswriter Eddie Willis is hired by corrupt fight promoter Nick Benko to promote his current protégé, an unknown Argentinian boxer named Toro Moreno. Although Moreno is a hulking giant, his chances for success are hampered by a powder-puff punch and a glass jaw. Exploiting Willis' reputation for integrity and standing in the boxing community, Benko arranges a series of fixed fights that propel the unsophisticated Moreno to #1 contender for the championship. The reigning champ, the sadistic Buddy Brannen, harbors resentment at the publicity Toro has been receiving and vows to viciously punish him in the ring. Eddie must now decide whether or not to tell the naive Toro the truth.

Joe Palooka goes blind during a fight. An operation restores his vision, but he's told not to fight for a year. His trainer Knobby has picked up another fighter, but gangsters are pressing him to fix fights. Joe decides to risk his eyesight to save Knobby's honor.

Gangsters frame Joe on a drunk charge and a murder rap so they can put their own fighter into a big event. Joe investigates in an attempt to prove his innocence.