Spione (1928)
Klein-Rogge as the great Haghi, and as Nemo, the clown. 
(Well, you could almost call them two separate characters)

This film could well be called a remake of Dr. Mabuse, Der Spieler, except for the clown make-up, that is.  Other than that, Rudy almost repeats his Mabuse character, even down to the numerous disguises, although here, not as plentiful.  Haghi has a bit of an identity crisis, I think; he can't decide whether he wants to be a successful businessman and have an entire bank to himself, be a ruthless spy master and have the world all to himself, or be a popular clown and have the whole audience all to himself.  So, instead of choosing one over the other, he takes all three! 
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