When the FBI knocked on my door in 2005, I thought I could manage the situation. I was wrong. In this episode of The Presumption of Innocence, I sit down with defense attorney Matt Adams to unpack the moment everything changed—how I hired a lawyer, ignored his advice, lied to federal agents, and turned what might have been a civil case into an 18-month federal prison sentence.

We talk about what really happens during a government investigation, why cooperation is meaningless without credibility, and how my co-defendant used my mistakes to earn a better outcome. I also share how I rebuilt my life after prison, and what people facing federal charges must understand if they want to avoid making the same costly errors.

Whether you've just received a target letter or you're preparing for sentencing, this conversation will help you see how the smallest decisions early in a case can define everything that comes next.

When You Know It's Wrong—But Do It Anyway

On June 16, 2002, I took a $6 million hedge fund transfer from a manager I knew had a shady history. I knew it would go bad—and I took the money anyway. Why? Because I needed to hit my numbers. That's how many white-collar crimes start: not with some grand plan, but with a moment of pressure and a willingness to ignore the red flags. I had grown up with opportunity, yet I still crossed the line. It cost me everything.

Join our weekly webinar every Tuesday at 11AM Pacific / 2PM Eastern. Don't make the same mistake.

What I Learned About Status in Federal Prison

When I arrived in federal prison, I thought people would judge me based on my white collar conviction or my 18-month sentence. I was wrong. No one cared about my crime or background—what mattered was how I behaved. I learned fast: don't brag, don't complain, and don't act like you're better than anyone else. A felony levels everything. Whether you did 18 months or seven years, the system resets you. One guy at my camp mocked another for whining about his short sentence—and it got ugly. That taught me: humility goes a long way inside.

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I thought I deserved a raise. I was bringing in big commissions and figured I'd earned more. When my senior partner laughed me off, I didn't just get mad—I got even. I found a loophole in Bear Stearns' accounting system and used it to steal what I thought I was "owed." That decision—rooted in entitlement—started a slow slide: I ignored my clients, stopped taking care of myself, and justified every step. It ended with me standing for count in federal prison.

Real consequence: Rationalizing unfairness is often the first step toward a federal indictment.

Join our weekly webinar every Tuesday at 11AM Pacific / 2PM Eastern to learn how to build a record that proves you're worthy of leniency.

Entitlement Will Keep You in Federal Prison Longer

In federal prison camps, you can act entitled—but it will cost you. One white-collar defendant mocked the drug program on a recorded call. Another inmate tipped off staff. Result? He was kicked out and lost a year off his sentence. Programs like RDAP and home confinement under the new BOP directive reward preparation and follow-through—not arrogance. Staff already view white-collar defendants as manipulative. Don't prove them right. Build a record that shows real change, not gamesmanship.

Join our weekly webinar every Tuesday at 11AM Pacific / 2PM Eastern to learn how to shorten your sentence by doing the work that counts.

Following Through After Prison: Why June 3rd Still Matters

In prison, it's easy to talk about rebuilding your life. Following through? That's the hard part. On June 3rd, 2009—fresh out on a four-hour halfway house pass—I suited up, grabbed 20 copies of Lessons From Prison, and walked into downtown L.A. law offices, pitching my book cold. Most people ignored me. One threw me out. But one lawyer, Mark Werksman, shook my hand—and years later, he's still handing that book to his clients. That day wasn't glamorous, but it was real. If you're serious about making amends, don't just plan. Act.

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Why the Masterminds Might Get Less Time Than You

An executive who committed PPP fraud called me after learning he's facing serious time. Ten years ago, he saw me speak—long before he got into trouble. Now, the FBI has already flipped the ringleaders, and because they had information to trade, they may get shorter sentences. He doesn't. That's the reality: in federal cases, the last to cooperate often pays the highest price. It's not always fair, but it is predictable. Don't wait.

Join our weekly webinar every Tuesday at 11AM Pacific / 2PM Eastern to learn how to take control before it's too late.

What Happened When the Judge Interrupted His Allocution

A former executive stood before a judge and tried to frame 12 years of fraud as a one-time mistake. The judge cut him off—furious. Why? Because the message didn't match the facts. If you want a shorter sentence, honesty matters more than spin. Own the truth, even the worst parts. A better allocution would've admitted the long-term fraud, explained the mindset, accepted responsibility, and outlined a plan for change. Judges can spot a fake. Don't give them a reason to doubt you.

Join our weekly webinar every Tuesday at 11AM Pacific / 2PM Eastern to learn how to prepare for sentencing the right way.

How One Man Avoided Charges by Preparing Early

While celebrating my son's birthday, I got news: someone in our community avoided federal charges because he prepared early. Instead of staying silent after sensing trouble, he retained a lawyer, studied our proffer resources, and spent hours building a record showing why he was worthy of leniency. The FBI didn't raid his home—because he was ready. I wasn't in 2005, and I paid the price. Silence isn't a plan. Hope isn't a defense.

Join our weekly webinar every Tuesday at 11AM Pacific / 2PM Eastern to learn how to respond before it's too late.

When Reality Hits in Federal Prison

One week into my sentence, I called my sister-in-law and said, "I'm ready to come home now." I finally understood the weight of my decisions—but I still had 371 days left. That's the mistake: thinking regret is enough. It's not. A bad choice can cost you your freedom, reputation, license, and business. I learned that the hard way. If you're under investigation or facing time, don't wait until you're inside to realize what's at stake.

Join our weekly webinar every Tuesday at 11AM Pacific / 2PM Eastern to start preparing before it's too late.