Edgar Wallace's crime novel "The Lady of Ascot" is a loose adaptation of William Wallace's 1921 play "M'Lady." When a wealthy Countess and her daughter, Marie Fioli settle in the small village of Ascot, excitement spreads. The countess' plan of attempting to raise her daughter in high society, is jeopardized by the return of her husband, who has been serving a prison sentence at Broadmoor for the murder of a police officer. Even private investigator John Morlay is smitten by the young and lovely Marie Fioli. He sees an opportunity to get closer to the Countess when he is unexpectedly hired by former nanny Maries Beschutzer. His mission, however, serves a completely different purpose.