Remy Germain is a doctor in a French town who becomes the focus of a vicious smear campaign, as letters accusing him of having an affair and performing unlawful abortions are mailed to village leaders. The mysterious writer, who signs each letter as "Le Corbeau" (The Raven) soon targets the whole town, exposing everyone's dark secrets.
Lulu is a young woman so beautiful and alluring that few can resist her siren charms. The men drawn into her web include respectable newspaper publisher Dr. Ludwig Schön, his musical producer son Alwa, circus performer Rodrigo Quast, and seedy old Schigolch. When Lulu's charms inevitably lead to tragedy, the downward spiral encompasses them all.
Russian exiles in Paris plot to collect ten million pounds from the Bank of England by grooming a destitute, suicidal girl to pose as heir to the Russian throne. While Bounin is coaching her, he comes to believe that she is really Anastasia. In the end, the Empress must decide her claim.
