Matthew, a rich nationalist Jew and a contemporary of Jesus, regards the latter as an obstacle in this struggle to free their people from the Roman yoke by means of revolt. He incites the people against Jesus and prevents his own wife, a true Christian in her heart, from offering the Redeemer a drink of water at his crucifixion on Golgotha. For this act Matthew is condemned to wander eternally on the earth with every rest denied to him, even that of the grave. We go forward to Paris in 1940. Matthew, miraculously still alive, is now the young banker Matthew Blumenthal. Rich and powerful, it would be easy to escape from Nazi persecution, but he chooses not to do so. He wishes to share the lot of his fellow Jews and, with many others, is despatched to Germany and detained in a concentration camp where everyone is brutally ill-treated. Being young, robust and full of energy, he does not resign himself to the situation, but succeeds in organizing a rebellion and flees with several comrades. He manages to reach safety, but when he learns that a hundred hostages will be killed if he does not return to captivity, he surrenders voluntarily and undergoes martyrdom, whereupon the curse of the Wandering Jew is finally lifted.—Jim Marshall

Germany 1935. Mathieu Blumenthal asks Professor Epstein for help and tells him his story. He has been condemned to wander eternally for insulting Christ on his way to Golgotha. Paris, May 1940. Now a rich banker established in Paris, Mathieu lives with his beautiful mistress, Hélène, and his butler Hans (both Nazi agents). When Professor Epstein, fleeing Nazi persecution with his niece Esther, Mathieu first selfishly refuses but over time changes attitudes and finally takes a stand for the Jewish people. He, Epstein and Esther (who has become Mathieu's true love) will be sent to a concentration camp ...—Guy Bellinger