In the tropical streets of Panama, a charming yet disgraced British spy named Andy Osnard is given a seemingly mundane assignment at the British embassy, keeping tabs on the local political scene. Seeking to exploit his situation for personal gain, Osnard targets a well-connected tailor named Harry Pendel, whose clientele includes some of the most powerful people in Panama. Pendel, a former convict who has crafted a new identity for himself, is coerced by Osnard into fabricating intelligence about a brewing political scheme involving the U.S. and the Panama Canal. As Pendel starts spinning his tales, he sees an opportunity to alleviate his financial troubles and impress his wife Louisa, who remains unaware of his duplicity.

Pendel's fabricated stories quickly catch the attention of British intelligence, leading Osnard to feed them to his superiors who take the information at face value. The web of lies rapidly spirals out of control, sparking unintended and dangerous consequences. Whispers of uprisings and political instability start causing ripples, affecting global interests and putting several lives at risk. Pendel struggles with his conscience and the increasingly treacherous waters he's navigating, while Osnard keeps pushing for more, driven by his own greed and ambitions. The tension between the crafted deception and the looming fallout builds towards a dramatic confrontation as Pendel must reconcile his actions and their far-reaching impacts.