The trademark of The Phantom, a renowned jewel thief, is a glove left at the scene of the crime. Inspector Clouseau, an expert on The Phantom’s exploits, feels sure that he knows where The Phantom will strike next and leaves Paris for Switzerland, where the famous Lugashi jewel ‘The Pink Panther’ is going to be. However, he does not know who The Phantom really is, or for that matter who anyone else really is…

Kelly Sherwood is terrorized by a man with an asthmatic voice who plans to use her to steal $100,000 from the bank where she works. He threatens to kill her teenage sister Toby, if she tells the police. However she manages to contact F.B.I. agent Ripley.