Arsène Lupin is extremely popular among the population, because he allows the needy to share in his acquired wealth. Before entering the service of the German Emperor Wilhelm II, he removes his vault in Alsace, steals two paintings of old masters, steals valuable gems and calls out to the police prefect to avoid his arrest. But this time he risks being seriously recognized. Lupin must once again use his fine intellect to deftly escape the situation.

Due to an urgent need of money, aspiring writer Agnes participates in an amateur striptease contest. Her new boyfriend, Daniel, who is a reporter by profession, covers the contest for his magazine.