The fifth season of White Collar begins with Peter in jail after he was framed for killing Senator Pratt by Neal’s father, James. Mozzie found a way to crack Neal’s ankle monitor and now the FBI can’t track his movements.
Neal receives a mysterious text message from someone claiming that they can help free Peter and that person is Curtis Hagen. A person that Neal helped Peter put in prison awhile ago.
He wants Neal to do a job for him and in return he will get Peter out of jail. He also wants Neal to forge a confession using his father’s voice to admit it was him that killed the senator.
At Peter’s indictment new evidence is brought forward that proves he was innocent and is now a free man. He returns back to the FBI with everyone congratulating him and thanks Neal for what he did believing that he managed to track down his father.
Peter is offered the opportunity to run the White Collar division in New York. Neal now has to do his part of the deal with Hagen by stealing some coins.
Neal and Mozzie have a plan to steal the coins by using the fire department to clear an adjacent building next to the one that has the coins.
Mozzie pretends that he’s going to jump off a building and Neal impersonates a fire-fighter to evacuate the people in the area he needs to steal the coins.
The only problem is that as Neal gets back down to street he has to give up his air tank that has the coins he stole. He will need to come up with another plan to get the coins out of the fire-house without being detected.
Peter and Neal have a case with it being about the coins that Neal took. This might seem bad for Neal, but this way he is able to be at the fire-house without drawing suspicions.
Neal is able to cause a distraction that allows him to slip away and give the coins to Mozzie. Neal realizes that this was a trap set up by Hagen and he has Neal on video stealing the coins.
The whole point of this was to catch Neal committing a crime and this way he could force Neal to help him get out of prison. Peter decides he can no longer be Neal’s handler and also gives him a new ankle monitor.