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With FBI Agent Peter Burke (Tim DeKay) in jail, Neal Caffrey is willing to do anything to free his handler and friend from the crime that the FBI Agent did not commit. Enter Curtis Hagen (Mark Sheppard) and his devilish deal that Neal bites into in order to save Peter: He wants Neal to forge his father, James Bennett's confession on what really happened in exchange for a favor of getting a huge amount of money.

Mozzie (Willie Garson) and Neal are both suspicious of Curtis' deal but the "Dutchman" lived up to his word so it is Neal's turn to do his part. With the "forged James Bennett" statement, the charges were dropped and Peter Burke was finally free to go home to his wife, Elizabeth, and return to do his job as an FBI Agent. Peter is convinced that Neal was able to convince his father in leaving the statement that set him free. However, Neal is keeping the big secret of the Curtis Hagen deal from his handler and friend. Will Peter find out about what Neal really did to get him out of prison? If he did, it is expected that the relationship between the two characters will be strained and trust will become a big issue.

The amount of money that Curtis needs turns out to be gold coins and Neal had to conduct a heist with Mozzie to get the coins for the Dutchman. However, things did not run smoothly with Peter investigating the coin heist. Again, the FBI Agent had no idea that the man he was after is the man standing next to him in the investigation as his consultant: Neal Caffrey. Another big secret that Neal will keep from Peter. Even though Neal succeeded in obtaining the gold coins, Curtis reveals to Neal that what he really wants is for Neal to help in setting him free in exchange for Peter's freedom and if Neal refuses, he will reveal the truth behind the coin heist with a video evidence. Talk about blackmail.

The premiere episode ending shows Peter embracing change after he got promoted as the new head of the NYC White Collar division. He visits Neal and told him about the big step in his life, gave him a new anklet and promised that he will have a new handler.