Federal investigations don’t stop just because you think you have time. If you’re under investigation, the government is working—collecting documents, building timelines, and speaking to witnesses. Yet too many people in our community assume their lawyer will handle everything or that cooperation alone will keep them out of federal prison.
On Monday, I had the privilege of speaking with retired FBI agent Paul Bertrand, who spent years investigating investment fraud, mortgage fraud, and corporate fraud cases. As you will learn, Paul worked on my case from 2007-2008. We reconnected after my release from federal prison in 2009.
Paul shared insights into how the government builds its case, what agents look for, and what defendants should do to put themselves in the best position.
Investigations Take Time—And They Never Stop
Paul emphasized that once an investigation starts, it doesn’t stop until sentencing. Even after an indictment, agents continue gathering evidence, and if someone is still engaged in misconduct, that information will make it into the final sentencing memo.
What does that mean for you? It means that while the government is working full-time to prove its case against you, you need to work just as hard to build a record that demonstrates why you deserve leniency. The FBI builds timelines, collects evidence, and prepares a narrative that will be used in court. You’re making a critical mistake if you’re not doing the same to show why you’re different from the government’s version of events.
What Happens When the FBI Knocks on Your Door?
Many people in our community assume they are safe from investigation because they “moved on” or “fixed” a past mistake. I thought the same thing. I left UBS and started a new career, but that didn’t stop Paul from showing up at my door one day many months later.
According to Paul, every investigation starts with a complaint—often from a victim who has lost money. From there, agents begin piecing together evidence. By the time the FBI interviews you, they likely already know the answers to most of their questions.
I made the mistake of lying during my interview. That alone destroyed any opportunity I had to cooperate. As Paul shared, when a defendant lies or omits critical details, it wastes time and signals to investigators that the person hasn’t truly accepted responsibility.
His advice? If you’re going to talk, tell the truth. If you’re not ready to do that, say nothing at all.
Cooperation Is Not a Get-Out-of-Jail-Free Card
Many people assume that cooperation automatically keeps them out of prison. That’s not how it works. Paul estimated that in his career, only one person he investigated avoided prison completely. That person cooperated for five years across multiple cases.
For everyone else, cooperation might reduce a sentence, but it rarely eliminates it. Paul also made a crucial point—cooperation and acceptance of responsibility are not the same thing. You can fully cooperate and still receive a harsh sentence if the judge doesn’t believe you truly understand what you did.
I’ve seen this firsthand. Some defendants cooperated extensively and still received years in prison because they failed to show genuine remorse or took a passive role in their own defense. On the other hand, I’ve seen people who didn’t have much to offer the government but still received downward departures because they built a strong record of growth, responsibility, and accountability.
The FBI Builds a Case—You Need to Build One Too
Paul described how the FBI starts an investigation:
- Opening an Excel spreadsheet—creating a timeline of events.
- Gathering documents—subpoenaing financial records, emails, and business documents.
- Interviewing witnesses—talking to victims, insiders, and cooperating witnesses.
- Cross-referencing evidence—matching testimony with bank records, contracts, and communications.
- Preparing for trial—building a narrative that convinces a jury.
The government does this because their job is to prove guilt. They are assembling evidence and constructing a case designed to secure a conviction.
If you aren’t actively building your own record, you are making their job easy.
At White Collar Advice, we emphasize documenting your journey—creating a timeline of your progress, work history, volunteer efforts, and character-building. When Paul came across my book Lessons From Prison after my release, it influenced how he saw my post-prison life. If I had never written it, he never would have found it.
That’s why we tell people: Create something that does not exist. A release plan. A personal narrative. A timeline of accountability. If you don’t, the government’s version of your life is the only one the judge will see.
What You Need to Do Now
- Stop thinking you have time. Paul made it clear—investigations don’t stop, and waiting to act is a mistake.
- Document everything. Judges want to see proof of change, not just hear about it.
- Recognize that cooperation is not enough. Even if you’re working with the government, you need to prove that you truly understand the impact of your actions.
- Take ownership of your story. If you don’t create a record of who you are today, the government’s version of events will be the only one that matters.
If you’re facing an investigation, don’t sit back and assume everything will work out. The government is working every day to build a case against you. The question is: Are you working just as hard to build a case for yourself?
Justin Paperny
