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Phony missionary Virginia Mayo, in cahoots with crooks Dennis Morgan and David Farrar, plan to steal a fortune in black pearls from the unsuspecting islanders. They soon discover these pearls rest in an underwater shrine guarded by a giant octopus. Just as they are about to make off with the booty, the natives see through the guise and attack them, killing one of them and burning their schooner. Who gets killed and what will be the destiny of the two survivors?

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