Schulz, doing time for fraud in Spandau prison, gets released in 1939 but once war breaks out he finds himself mistakenly recruited into SS Counterintelligence.

Schulz's forgery talents are put to use in creating counterfeit British banknotes which the Germans hope will bankrupt the British economy.

Schulz once again comes under the command of Major Neuheim but this bad news is offset when he gets a chance at one million pounds.

After serving two years in a military prison, Schulz gets reunited with his old gang of forgers just in time for the end of the war.