Luelia aka The Saint and the Double Badger
Written by
Leslie Charteris
Copyright 1948
First published as Operation Leulla in Rex Stout's Mystery Monthly #6 (Oct. 1946), then as The Saint and the Double Badger in 2 issues of The Saint Mystery Magazine (US - Jan. 1960 & UK - Mar 1960). Also published in the collection .
The luscious Luella is the bait in a badger game that hooked Templar's friend so he sets himself up a the next sucker.