White Collar (2009–2014): Season 2, Episode 11 - Forging Bonds - full transcript

Upon learning who is responsible for what happened to Kate, Peter wants Neal to tell him all he knows about him. But because it means revealing some of his past criminal acts, Peter tells him that for the next 12 hours everything he says is off the record. So Neal tells him of how a few years ago he first came to the city and how he first met Mozzie. Then how he later met the man, Vincent Adler of how he also met Alex and Kate. And of the con which first brought him to Peter's attention.

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It's late.

That's not supposed to be
one of Monet's lost frames?

No, just trying
to clear my head.

Good. About that.

Vincent Adler...

Seven years ago,
he ran a huge Ponzi scheme

and disappeared
with a billion dollars.

You knew him?

He's the man who made me
who I am today.

Mm-hmm. He's rained hell
down on both our lives.

You knew. You knew, and you
didn't say anything?

I just figured it out
myself, okay?

I'm trying to reconcile
the Adler I knew

with the man responsible for...

For Kate? For Mozzie?

So let's get him.

Come on.

Start talking.

Yeah, I'm not much of a beer drinker, so...
I know.

That's why I brought you this.

Oh. I don't recognize
the bottle.

That's because it cost
as much as the beer.

Wow. I don't even need
a corkscrew.




How do you know Adler?

It's a long story.

If we are gonna catch this guy,

just like I caught you,
I need to know everything.

There's too much to tell.

You're gonna plead the Fifth?

A few secrets are good, Peter...

Keeps the mystery alive.
I get it.

This story includes some stuff

about crimes
I don't know about.


No. You're not
holding back on me.

We've got all night.
I'll make you a deal.

Full immunity
for anything you say

from this moment until the sun
rises over that balcony.

Full immunity?

Did you kill anybody?

Then full immunity.


All right.
Let's start with this.

Mozzie decoded the music box.

It's an equation.

This is what it built.

It's a fractal.

Very good.
I've seen one like it before.

- Where? - In Vincent Adler's office
when I worked for him.

How did you meet him?

If you want
to know about Adler,

we got to start with Mozzie.

Why am I not surprised?

It was eight years ago.

I was new to the city,

didn't know the East Village
from the West.

All right, follow the lady.

All you got to do
is follow the lady.

I mix them fast, but if your
eyes are faster, you win...

Simple as that.

Lady's in the middle.

You got good peepers, pal.
Want to double up, buddy?

Sure. Toss them.

Okay. You think you can follow them,
but I'm saying that you can't.

It's all a game
of you vs. me.

All right, here we go,
here we go.

Where is she?
Where is she?

Watch her. Watch her.

She's a sneaky lady,
but I think she likes you.

She's on the right.

No, she's back in the middle.

Are you crazy?
She's definitely on the right.

It's his money, kid.


Ah, she's sneaking around
on you, boss.

Lucky guess.

You're so good at this,

why don't you put
your own money down?

You gonna bet or walk away.

Yeah, yeah, yeah.

What you got?

All right.

$50? Come on,
really take this guy.

Time to put up or shut up, kid.

It's up to you.

All right.

Let's go $500.

Now we're talking.
All right.

All right, looks like
I hooked me a whale here.


Looky, looky, looky,

hey, diddle, diddle,
the queen's in the middle.

Follow her fast.
Follow her slow.

My hands are fast.
Your eyes are slow.

See her? Huh? See her?

Pick that little lady
and you win, my man.

All you got to do is show me
the smile on the lady's face,

and you walk away with it all.

Ah! You sure?
Yeah. He's sure.

I'm sure.

Fun game, man.

Thank you. You toss the broads
really well.

Damn it!

Cado, you want to earn 10 bucks?


You gonna stiff me this time?

Go, you little weasel.
Follow that guy.

He's in my training program.

I'm the guy from the park.

Hey, I'm not here to give you
hospital time, kid.

Good, 'cause I'm not giving you
your money back.

Ah, keep it.

What's your angle?

Look, I been running
find-the-lady for years,

and even I didn't catch
that swap.


Where's your partner?

I left him.

I need an upgrade.

Mozzie had a goatee?

Well, only to distract
from his toupee.


Oh, we talked.

Moz told me
about his Detroit days.

He'd been running street cons
since he was a kid.

Mm. Notice my lack
of surprise.

What does any of this
have to do with Adler?

Well, he's the reason
Mozzie found me.

These forgeries
are exquisite.

Who says it's a forgery?

Uh, given your living
conditions, I do.

How did you match
the tricolor seal?

Just eyeballed it.

By eye?

Huh. You are
very talented, kid.

With you as my partner,

we could move way beyond
the street hustle.

What did you have in mind?

A long con,

which, if executed properly,

would enable us
to purchase and retire

on neighboring temperate-zone
islands in a mere six months.

I just got to this city,
and I'm too young to retire.

I'm talking about summiting
the Everest of swindles.

Who's the mark?

Vincent Adler?


Now this is getting good.

It was the first time I heard
Adler's name.


Those bonds... that's the first
time I'd come across you.


Tell me.

You're stalling.

No, I'm not.
Come on.

We got... we got
a long time until sunrise.

We got plenty of beer
and...this. So tell me.

Did you have to fight
to take my case?

It was a real tug-of-war.

Here's another one
for you, Peter.

Stop hoarding
all the new cases, Burke.

Bond forgery
sent over from NYPD.

Two phony Atlantic incorporated
bonds in six months.

What? You want it?

Two in half a year?

have never been forged.

I'll pass.

All right.

This is quality work.

Mm, so is my kid's drawing
on the fridge.

He's all yours.


I think this guy has a future.

What was my nickname?


Come on. Every case
gets a nickname.

Hagen was the Dutchman
before you I.D.'d him.

What was my nickname?
Oh, don't recall.

Oh, that's too bad.

Well, the sooner you remember,
the sooner we can move on.

James Bonds.


James Bonds. James Bonds.

Yes, yes.

Would you like another beer?

Shaken, not stirred?

Oh, see, I knew it was
a mistake telling you.

Believe me,
yours was just one file

in a giant stack of cases.


But it was on top.

You weren't that good.

This guy's good.

Honey, come on...
Are we gonna put this away,

or is that
our new coffee table?

Oh, I'm sorry.

What about this one
is getting under your skin?

You really want to hear
about this?

Well, of course, always.
All right.


He's tampering
with federal evidence.

That's a forgery?

The seal, the signature,
the security strip.

See, most forgers are
only experts at one aspect.

The man who forged this bond
is capable of bigger things.

He can do it all.

Well, so can you.



Lose the 'stache?

Yeah, sorry, Magnum.
I still love you.

I love you, too.

Elizabeth named him?

How do you know I didn't?

Well, Elizabeth likes old jazz.
You don't.

Don't forget
I knew a fair amount about you

before it was over.

Hmm. Know thine enemy.

Know thyself, and you will win
a hundred battles.

Mozzie's influence?

Big student of history.

Tell me how you went
after Adler.

He was a big fish.

There he is, our white whale.

What did you find out
about him?

Well, he's the C.E.O.
of Adler Financial Management,

and he runs
their top hedge fund.

What'd he bring in?

I don't know.

Never say that.
Know everything.

Adler made $150 million
last year,

up 8% from the prior year.

Know thine enemy,
and you will win... Sun Tzu.

All right.
What's the con?

Well, Adler routes a hefty
percentage of his profits

into an account in the Caymans
every six months.


All we need to reroute
his next wire transfer

is two pieces of information...

Account number and password.

That's where you come in.

Where does he keep it...

Personal safe, deposit box?

In his head. He's too smart
to keep it anywhere else.

I can't just walk up and ask him for it.
That's impossible.

A wise man once said it's fun
to do the impossible.

Bertrand Russell?
Walt Disney.

You should read more.

Our clock is five months.

You'll ingratiate yourself,
become a trusted friend,

then convince him to tell you.

Why don't you do it?

I'm more
the behind-the-scenes guy.

All right, look at me,
and then look in the mirror.

Who has a better chance
of charming Adler

at the charity dinner
on Friday?

The antiquities recovery

It's five grand a plate.
I can't afford that.

Well, you can if you cash in
a few more of your bonds.

Big mistake.

Cashing those bonds
was a calculated risk.

But it was worth it for the con we were
about to run on Adler.

Yeah, but bankrolling them

got us our first visual on you.

If I recall,

I wasn't the only one who made
a mistake that day.

No, hang on, hang on.

Yeah, it was that bank
in Midtown.


Did you get it?


The teller was a sweetheart.

Oh, she gave you a sucker.

You know, the irony of that

would not be lost
on Alanis Morissette.

This guy's a forger.
He's good.


Brooks Brothers suit.

Yes, I understand.

So that means fed...
Talking to the bank manager.

We got to go.

...These bonds, I want you
to call me immediately.

Never met a fed before.

Let's keep it that way.

Detain him if possible.


Excuse me.

Sorry, I-I couldn't help but
overhear. Are you with the FBI?

Special agent Peter Burke.


I-I just took some money
out of the bank,

and I heard you talking
about counterfeiting.

Your money's safe. I'm looking
after counterfeit bonds.

Well, I have some bonds
at home.

How would I know
if they're not real?

I'm sure they're fine.

Well, thanks again for all the hard
work you're doing, agent Burke.

That's for you.
Have a good day.

He's not a nanny goat
in a petting zoo.

He's a fed.

Within minutes, he could have
set up a five-block perimeter...

of trench-coated G-men.

It was worth it.
We now know two things.

We got to move off bonds,
and his name is Peter Burke.

Know thy enemy, right?


Now you've got the money
to pay for the invitation.

What name you gonna use?

I don't know.


Nicholas Halden.


Get yourself a few aliases.
You're gonna need them.

Oh, pop quiz, hot shot...

Adler's market strategy

Short derivatives,
bullish on commodities.

Mm. You have learned much,

Why are you filling that bottle
with bargain red?

Have you studied
Adler's wine list?

Is that the '91 Bordeaux?

The one year it was corked
in the wrong bottle.

$800 a pop.

I, of course, got this bottle empty.

Best served
when the guests are drunk.

And I asked my cleaner
to keep an eye out

for something in your size.

Yeah, I don't know
if I'm a suit guy.

Ah, you'll be fine.

Well, I really
appreciate you coming. Thanks.

Mr. Adler?

Nick Halden.
Nice to meet you.

I brought this
from my collection.

That's very generous.
Thanks for coming.

Hey, nice play on the emerging
markets last quarter.

You really called Russia.

Well, it all came down to grains, didn't it?

Where do you think
they're going?

Bull market.

For us, not Europe.

I'd say their imports
are up 20%.

Enjoy the party.

Raphael's Saint George and the Dragon...

It's a powerful piece.

Commodities and art?
You've got diverse interests.

Like you, art is my passion.

Then you should talk
to my assistant.

Nick Halden.


I'm Kate Moreau.


You like it?

What? What?

Oh, yeah.

No, it's, uh...

It's breathtaking.

It's my favorite one.

Raphael was a master
of balance...

thick brush strokes
for the landscape,

but the skin tones
are almost...translucent.

Are you an artist?

I dabble.

I tried,

but the romance
of being a starving artist

wore off very fast.

Well, you won't find
any original Nick Haldens

at a gallery downtown.

What do you do?

I'm looking
for new opportunities.

Excuse me, sir.
May I take that?

Oh. Thank you.

You're here to cozy up
to my boss.

If I work for Adler,
I can go anywhere.

Any advice?

I've seen the seating chart,
and you're nowhere near him.

That's your first challenge.


I like a challenge.

Good luck, Nick.


It seems my date

has been relegated
to the Buenos Aires table.

You have until
the salad course arrives

to tell me what you want.


I want to work for you.

In what capacity,

other than your enthusiasm
for grains and paint?


My team is full.

Cameron Singer...
You're about to buy his firm.

Speculation's been front page
of the Journal all week.

Pass the bread.

Well, he's been avoiding
that woman.

Hannah Fields?

Next week, Hannah Fields

will announce
her new investment branch.

She's buying out Singer.

He's gonna
back out of your deal,

and the media will eat it up.

Your company
will appear unstable.

That could spook investors.

I'm gonna continue my meal now

with someone who looks better
in an cocktail dress than you.

Well, look into Singer.

If it turns out I'm right,
call me.

The Singer deal...
was it true?

Absolutely. Mozzie and I had
been spying on them for weeks.

Adler ditched Singer
and brought me in a month later.

He hired you to find things
for him to buy.

Well, part of my job
was knowing everything

about everyone
Adler dealt with.

He had a lot of holdings
and a lot of enemies.

Turns out I had a knack
for rooting them out.

And Kate was there
the whole time.


Is that when you guys
got together?

No, no.
She had a boyfriend.

Hmm. Oh.

It's not there.

All right, we'll just have
to try again.

Remind me again why I let you

make my favorite necklace

Because...You like magic.

Someday you're going to tell me
all of your secrets.

I mean it.

May I?

Maybe someday.

Come out with me on Friday.

I, um... I have
your assignment from Adler.

He wants you to look into this.


Looks like someone's been looking into his
recent art acquisitions.


Michael asked me to move
to Chicago with him.


Are you gonna go?

Um, I-I am, in a month.

It's a big step.

Yeah. I know.

Well, you'll like Chicago.

They, uh...
They have a great art museum,

and decent pizza.

Little windy.

Yeah, I've heard that.

I should just get this...
I need to get back to work.

What is this?

It's a fractal...
a mathematical curiosity.

That was the first time
you'd seen one?

Yeah. You know, he was
obsessed with them.

His were similar to that one,
but none was an exact match.

Okay, so, Kate was going
to Chicago with another guy,

and you were trying to root out

whoever was looking
into Adler's stuff.

Keep talking.

You found the culprit.

She talked her way in.

She seems mostly interested in your
South American acquisitions.

And you got her
to come here in person?

I had the foundation
feed her a story

that they were impressed
with her research.

She thinks she's here
for a job interview.

Bring her in.

Yes, sir.

Miss Hunter.

Alex Hunter.

It's a pleasure to meet you.
Have a seat.

Miss Hunter...

Your passion for antiquities

is unusual
for such a young woman.

Well, every object
has a story to tell.

I find those stories

That was almost convincing.

Who are you working for?

I don't work
for anyone...yet.

That's why I'm here.

You can drop the act.

Someone is paying you
to get into my records.

Now, who is that?
Why don't you tell me?

Sir, maybe it would be best if we...
What are you looking for?

There were rumors you made
some big discoveries.

I got curious.

I thought you wanted to share
your art with the world.

That's for me to decide.

You accessed
my private database.

You made copies of my records.

I should bring charges.

Everybody gets
one big mistake in life

and one opportunity to fix it.

I believe in second chances,
miss Hunter.

I think you're clever enough
to know what I mean.

Thanks, Nick.

Grateful to be here,
Mr. Adler.


Your hard work
deserves a reward.

Thank you.

I know I don't meet
the buy-in, but...

Nick, come on, now.
We've talked about this.

You know I don't like my people
to invest in the fund.

You've made exceptions.

For you.

Thank you, sir.

You invested
your money with him.

Mm. All of it.

We all did.
He was making us 14%.

You didn't know it was a scam?

My goal at the time was
to prove my loyalty to Adler.

The job became my life.

Then what happened to Alex?

I know there's more
to that story.

You're sweet.

Nice trick.

You got me.

You got off easy.

Too late to apologize.

I'm not gonna apologize.
It's my job to catch you.

It's your job
to not get caught.

Fair enough.

What do you want?

Buy me a drink, and we'll talk.

Let's go.

Nick Halden...
That's a good name.

Not your real one,
but I like it.

I recognize a fellow grifter
when I see one, Nick.

All right.

Humor me, Alex.

What were you
really looking for?

Something Adler doesn't have.

He has everything.

He doesn't have this.

It's a music box.

Quite the Holy Grail.

It's worth about as much.

So Alex turned you on
to the music box.

Yeah, she'd been chasing it
for years.

She heard Adler
had information on it.

Did he?

He had a rumor that it was

at the Amalienborg Palace
in Copenhagen.

Said she'd send me a message

if she ever needed
my help getting it.

What kind of message?

A flower.

Did she ever send it?

Yeah, but that's
another part of the story.

Alex disappeared, and Kate...

Well, things changed.

You're taking a sick day?

I'm not allowed to feel lousy?

Every day with Adler counts.

I've already got
the siphon in place.

All we need is the password.

I'll get the password.

You know, I'm sensing your heart
isn't totally into this.

My heart is fine.

This is about the girl.

I thought she left for Chicago.

She left today.

You know,
it's probably for the best.

Now you can focus.

I got to go, okay?


You're supposed to be
in Chicago.

It's a big step...

In the wrong direction.


Because you're here.

You and Adler developed a connection

and you and Kate
were finally together.

You had it all.

Yeah, I was eating
the best food,

wearing the best suits,
drinking the best wine...

the kind that has corks.

It was the perfect life.

And it was also
the perfect lie.

You and Mozzie were
still working the long con.

Trying to make the lie real.

But every con has
an expiration date.

Adler makes the transfer
on Friday,

and you still haven't gotten
the password yet.

I said I'll get it,
I'll get it.

Oh, good, because I thought
you were having second thoughts

about abandoning your new
town-and-country lifestyle.

Don't kid yourself.

Kate doesn't even know
your real name. None of them do.

They care about me, okay?
She cares about me.

Um, no.

She cares about Nick Halden,
and he doesn't exist.

I hear the suit's
been asking around about you.

He has a sketch.

Where'd he get a sketch?

Oh, they always have a sketch
or a print or something.

Look, it's time to finish
this job and move on.

Let's have a look at you.

Never worn
a custom suit before.

The fit is perfect...

Except for the cuff.

The break should be an eighth
of an inch above the shoe.


Good eye, sir.

I can't accept.
This is a $10,000 suit.

You can and you will.

Some people say dress
for the job you want.

I say dress as the man
you want to be.

Nick, men like you and I...
We have an obligation

to assault the commonplace
every chance we get,

from the clothes we wear
to the art we collect

to the women in our lives.

You and Kate have gotten close.


You look good together.

How does she feel about it?

There are things about me
that I haven't told her.

I wouldn't worry.

the things we try and hide

are the most obvious
to the people around us.

Everything all right?

Nelson, would you excuse us
for a moment?

Of course.

There's something
you should know.

What's wrong?

I flagged a small irregularity

in your account in the Caymans.

Trace-analysis reports
were inconclusive.

What kind of irregularity?

Blips from a random I.P. address.


It's probably someone
from the bank, confirming.

But I'd have to look into
the account details to be sure.

You'd need the password.

I'll arrange a time for us

to go to the bank
so you can access it yourself.

No, no.

I trust you.

Bank closes at 6:00.
Burn this when you're done.

Don't sell yourself short.

Kate'll love you
for who you really are...

As will others.

You like the hat?

I could get used to it.

Are you all dressed up
with somewhere else to go?

No, I just have to be
somewhere by 6:00.

It's a commitment I made
a long time ago.

I think that you should blow off
said commitment.


Look. Our violinist agrees.

You are staying here with me.

I promised a friend. I can't...
I can't back out of it.

Kate, I'm...

What's wrong, Nick?

I just feel like...

you and me and all this...
I don't know.

I feel like I could blink,
and it'd all be gone.

You just blinked.

I'm still here.

Then nothing else matters.

You didn't get the password.

You said it yourself.
This is a long con.

You stepped on the brakes
when you should have leaned in.

It's Kate, isn't it?

I'm in love with her.

Every con man gets his heart
broken once.

She's not gonna break my heart.


...We'll get them
next time.

Love is a temporary madness.

It erupts like an earthquake
and then subsides.

St. Augustine.

You've been reading.

A smart guy told me to.

Oh, my God.

I want more.


You're insatiable.



We have half a marguerita
left over from last night.


Wait, hold on. Whoa...
Who said you get the sheet?

No, no, no, no, no.
Yes, I get it.

All right.

All right.


Whew. Wow.


The neighbors can see you.

Hi, neighbors.

Should I give them
a little show?

No. Here.

Look. There.
Ooh, I got a hat, too.

Now you're presentable.

All right.

You like that?

Put some pants on.

...Floors of Wall Street.
You got the sheet.

You don't get the last slice.

It's only fair.

Vincent Adler has disappeared,
and with him

hundreds of millions of dollars
of his clients' money.

A preliminary investigation
indicates his investment firm

may have been built
on a giant house of cards.

Securities regulators
now claim

Adler never traded
any shares for client accounts.

If true, Adler's disappearance
could prove to be

the brilliant exit strategy

for one of the greatest
financial frauds of our time.

Holy cow.
Can you believe it?

Who'd have figured?

Nobody saw this coming?

This guy took
thousands of people

for their life savings,
including charities.

Clinton Jones.

Word around here is
that you're putting together

a special white-collar
task force.

I am.

Well, I've only been here
a few months.

But I was wondering,

if there were some spots open,
if I could get a shot.

Are you the one who put
the Dutchman on our radar?

Yes, sir. I studied a profile
like his at Quantico.


Well, I can't promise anything.

It is a long list,
agents with more seniority...

You know how it is.

That's not the same sucker

you got from James Bonds
last year, is it?

People talk.

Well, nobody gets why
I'm still holding on to this.

Unfinished business.

I get it.

So, Adler disappeared,
but what about his account?

There was only a dollar
left in it.

The password was an anagram

for "nice try Neal."

Then what happened with Kate?

No money, no jobs.

It's all gone.

I know. I know.
Hey, hey.

We're gonna be okay.

It's just you and me now,

That's all that matters.
Come here.

We're gonna get it all back,



Okay, if we're gonna do this,

I need to tell you
something about me.


I'm not Nick Halden.

My name's Neal Caffrey.

You and Kate lost everything.

Yeah. Adler paid well.

We put it right back
into the company.

And why not? Everything
he touched turned to gold.

He conned us.

He conned everybody...
And then disappeared.

What happened after you
told Kate the truth?

I thought this was about Adler.

Well, I just got
a few beers left,

and I'm curious.

I taught her to survive.

Hey, you, stop!
Someone stop that guy!

Put your hands up!

Hey. Get up.

this man stole my package.

I did no such thing.

Whoa, whoa, be careful
with that.

It's the Falconer manuscript
from the 16th century.

Hey, I recognize this guy.

How you doing, Smedley?

This guy's got warrants out
in three different states.

Thanks to you, we can get him
off the streets.

Write him a receipt.

You can't take that.
It's worth a fortune.

We'll look after you, okay?

Bring this
to the 23rd Precinct.

Pick it up from evidence in a few days.


I'm a little sick
of being scalped

every time we pull
one of these.

You know, Moz, you look better
without the hairpiece.

Very handsome.

Hale takes a cut.
We split the rest three ways.

I don't know.
It's not bad.

To all this.

To the best of times.

And to...

Our villa on the C?te d'Azur,

the sun setting
over the Mediterranean.

The olive trees whispering
in the hills.

Let's do it.
Let's go.


You want to go to France now?

Look, that FBI agent...

He's been asking around
about the British pounds.

I don't know.

Maybe we should take
some time away,

outside the FBI's range.

We can start in Cap d'Antibes
while it's still warm,

work our way up to Paris,

over to Amsterdam,
then Copenhagen.

I'm not going to Copenhagen.

I should've mentioned Alex.

This isn't about Alex, Neal.

You can't just say, "Hey, Kate,
let's go to Copenhagen

for this opportunity
Alex told me about."

You just tried to con me.

I made a mistake, okay?

I'm doing this for us.

That music box
is worth a fortune.

It can give us
the life we want.

You went to Copenhagen
without her.

The box was there.

But it was
a three-person job.

Without Kate, it fell apart.

Alex ended up in a French
hospital, and I barely escaped.

But someone at the palace
pointed the finger at you.

Everyone thought
you had the box.

I didn't correct them.

Sure. It gave you
great street cred.

I came back to New York.

Kate was gone.

Well, she learned
something from me,

'cause she disappeared.

I started running big cons.

Guess I was trying
to get her attention.

Well, you certainly got ours,

Steve Tabernackle.

You knew about Steve?

We knew a lot of things.

Before returning to New York,

Caffrey popped up
in Denmark and France.

He's not afraid
to cross borders.

He definitely
does his homework.

We flagged his aliases
at all ports of entry.

I mean, when we get a hit,
we throw up roadblocks.

No, he'll never use
the same I.D. twice.

Tell me something
I haven't heard.

What about you?



You're on the run.
How do I catch you?

Stake out my girlfriend?

Well, Caffrey has one, right?

We think they split up.

Well, but we know where she is.

Does she know we're onto her?

We've never had enough
on her to bring her in.

And he hasn't gone
anywhere near her.

Hang on.

It took us months to catch her,

and she never stays in the same
place for more than a week.

She's hiding from him.

He doesn't know where she is.

Hey, Ruby's in Burma.

I'm gonna need
a bush plane to get...

Oh, no.

Did your pigeon die?

No, Estelle's fine...
best homer in the city.

Then what?

I received some news.

Some...information has surfaced
on the street.


Y-you have to understand.

It comes from a highly
unreliable source.

Where is she?

His name is Jimmy the Snitch.

I need a location.

Neal, this smells like a trap.

I don't care.
I need to see her.

It's a storage facility.

She'll be there this afternoon.

All right. Thanks.


Be careful.

Forging Raphael.

You've gotten good.

I heard the real painting
was stolen.

I hoped it would get
your attention.

It did.

I missed you.

I lied to you
about a lot of things, Kate,

but I never lied
about loving you.

I believe you.

I love you, too.

How did you find me?

Well, Moz heard you were fencing
Mauritian penny stamps.

I quit dealing in stamps.

It's okay.

Hands on your head!

Agent Burke.

Neal Caffrey.
You're under arrest.

I know.

Thank you.

I never would have found her
without you.

It's my pleasure.

So you guys were all
in that municipal van out front?

That's got to be uncomfortable.

Doesn't smell too good, either.

And you know the rest.

All right,
so what do we do next?

We find Adler. He's the key
to this whole damn thing.

Well, I've looked.

His trail didn't go cold, Peter.
There is no trail.

I caught you when I found out
what you wanted most.

We know what he wants most.

The fractal.


What is this?

You have any ideas?

It must mean something,
must point somewhere.

Are you telling me
the truth, Neal?

Why do you ask?

I only know one of your friends
who's into origami.

Alex has been here.

And this receipt is from today.

What does she think it is?

It's a fractal antenna.

They're in everything now.

There's one in your cellphone.

And this shape corresponds
to a specific frequency

for an emergency beacon.

Emergency beacon?

You're telling me that if
we build a real one of these

and we hook that up
to a radio...

It's gonna lead us
to a boat or a plane

or something that disappeared
in the 1940s.

Something worth
killing two people,

something worth all this?

It's worth it to Adler.

Then I guess
we have to find it first.