Securities Fraud, the FBI & Federal Prison (Soft White Underbelly Interview)

Summary of My Soft White Underbelly Interview

In this interview, I walk through how I went from a successful stockbroker to a defendant, then to a federal prisoner, and finally to someone who helps others going through the same mess. I explain the bad decisions I made, how I lied to myself and others, what prison was actually like, and why I now spend my time teaching people in crisis to stop waiting for someone else to fix their problem.

It’s the full story: indictment, shame, prison, coming home broke, and building White Collar Advice and Prison Professors from nothing more than a book, a blog, and willingness to tell the truth about what I did.

Key Points From the Interview

I was a stockbroker who broke the law and was held responsible for my conduct.

I ignored warning signs, lied to myself, and stayed quiet when I should have spoken up.

I was investigated and sentenced to 18 months in federal prison.

In prison I met Michael Santos, who mentored me and encouraged me to begin building assets.

With Michaels help, I started writing Lessons From Prison and documenting my days while still in federal prison.

In prison, we started building White Collar Advice to help others facing investigations, sentencing, and prison.

My message is simple: no one will do the hard work for you—not your lawyer, not a consultant, not the government.

Key Ideas and Insights

Silence is a decision: Waiting, hiding, or hoping the government “comes to its senses” only makes things worse.

You can’t outsource accountability: A lawyer can argue the law. Only you can show who you are, what you’ve learned, and what you’re doing about it.

Your record matters more than your promises: Judges, probation officers, and case managers look at what you document over time—not at one polished statement on sentencing day.

Federal prison is not the end, but it can absolutely make your life worse.
If you drift through your sentence, complain, and blame, you can leave in worse shape than you entered.

Documentation changes outcomes: Daily work—journaling, reading, service, programming, restitution plans, family support—creates a track record that can influence sentencing, placement, and release.

Practical Takeaways for Someone in Crisis

Start telling the truth—on paper, to yourself, and to the people you’ve harmed.

Treat preparing for sentencing and prison as a full-time job, not a side project.

Build a written record: timeline of events, letters, community work, education, family plan.

Stop saying “my lawyer will handle it.” There is work only you can do.

Study people who faced more time and built more from less. That perspective keeps self-pity in check and pushes you to act.

Best,
Justin Paperny


Want to PREPARE for and THRIVE AFTER a government investigation? Go Here: https://www.whitecollaradvice.com/com...

If you're new to our channel, my name is Justin Paperny. I'm the co-founder of White Collar Advice, along with my business partner, Michael Santos. Our team helps individuals and families navigate government investigations, sentencing, and life after prison.

White Collar Advice has guided thousands through this process. Our nonprofit, Prison Professors Charitable Corporation, influences millions of people a year in prisons and jails through our courses, including Preparing for Success After Prison, a First Step Act-approved program in the Federal Bureau of Prisons.

Our team is authentic. We will never ask you to do anything we haven't done ourselves and continue to do.



Thank you for joining our community.
—Justin Paperny
Call or text anytime: 818-424-2220

FULL DISCLOSURE:

We create this content to help people. Watching these videos without implementing what you learn will only set you back. Many people who watch these videos take the next step by scheduling a call and working with us. If you do, you need to be ready to commit to the process and accept that we can’t change the past or guarantee the future.