Beantown rolls out the red carpet when the glamorous and mysterious Prince and Princess Ookcray pay a visit. But at a fancy ball honoring the royal guests, everybody's jewelry disappears! Even the Mayor's wife Madeline falls victim - when her priceless brooch is snatched, she faints dead away. When the loot is found in the Mayor's pockets, he is arrested on the spot!

Once again the irrepressible Chameleon the Spy, master of disguise and super sleuth, leaps into action, pinning down the real thieves in thes royal ripoff and saving Beantown from disgrace.