The true story of glamorous crime queens Tilly Devine and Kate Leigh, and their deadly battle to control Sydney's underworld in the 1920s.

Phil Jeffs faces the hangman's noose for a scandalous crime that has all of Razorhurst guessing.

Black Aggie strikes up a romance with Greg “the Gunman” Gaffney and gives-up prostitution. But she’s still dirty on Nellie for putting her out of work, so she fronts her with a cut-throat razor. Frank Green intervenes and gives Aggie thrice as many cuts and bruises than she started out with.

Wally becomes an outcast when he gives evidence against Tilly's gunman.

Big Jim is desperate to hide his cowardice from the rest of Razorhurst, while Kate shoots to kill when she is the victim of a home invasion.

Tillys decision to visit London has dire consequences for her business and marriage. With Tilly in London, Kate moves to seize control of the drug trade. Fresh from prison, Guido is determined to become the Al Capone of Australia; and the police suspect they have a traitor in their ranks.

After a decade of gang warfare, Kate and Tilly have their final showdown. Phil Jeffs returns from exile and vows to drive Kate Leigh out of business. Frank and Guido fight to the death over the love of Nellie Cameron, and Razorhurst celebrates the grand opening of the Sydney Harbour Bridge.