Justin Paperny, “Lessons from Prison”
My name is Justin Paperny. Please allow me to introduce myself.
By way of background, I grew up in Encino, California and graduated USC as a student athlete in 1997. Upon graduation I built my career at Merrill Lynch, Crowell Weedon, Bear Stearns and then UBS. Some bad decisions I made regarding one of my hedge fund accounts led to my troubles with the criminal justice system and the 18-month prison term I served at Taft Federal Prison Camp. I was released on May 20th, and my sentence expires on August 17th.
I had a client to whom I had become beholden because he was generating almost $100,000 a month in commissions. My client was running a classic Ponzi scheme and I joined a team of brokers and supervisors at UBS in turning the other way. It was only a matter of time before the house of cards came crashing down. When it did, I feigned ignorance to the fraud in which I had come to play an integral role. While I was dissembling, the others players were cutting deals. UBS wrote a check to make the investors whole. My senior business partner still works at UBS and evaded prosecution. My client and coconspirator cut a deal. He is serving five years at Lompoc.
My actions humilitated my family and devastated my career. I suffered the indignities of prison. I’ll always be branded as a felon. Worst of all, I wrestle with my conscience having contributed to the making of victims.
While locked up, I had an opportunity to reevaluate the patterns of my life. My recalibration required a lot of work, but I believe I have left prison a better man with a clearer understanding of how virtues like integrity, discipline, and a sense of balance will help me over the obstacles that lie ahead. As you know, felons, perforce, face tougher lives. Public pillory, together with pain and shame are part and parcel to breaking the law. I get that now and am embarrassed to admit I did not consider such things while working in the brokerage business.
For the last eight of my 13 months at Taft Camp I wrote a daily blog at JustinPaperny.com , which highlights my experience as a federal prisoner. Blogging returned a bit of the humanity prison tended to rip away. I received scores of letters from men and women who were traveling throughthe criminal justice system. I felt connected to the real world and derived immense pleasure knowing that I was contributing to the lives of others.
I also wrote and published a book entitled, Lessons From Prison, a story about my life, ethics, and thriving through prison. I help readers understand how my values began to change as I entered the career of money management. Without a strong core or center to guide my actions, I easily crossed the line from unethical to illegal behavior. In prison, I learned that moral lapses are insidious, subtle and continuous. The more I stretched the truth the more I had to keep up the act, which is why one lie leads to another.
Early feedback to Lessons from Prison has been outstanding. Two universities thus far have read the book: DePaul University and St Mary’s University. Both are incorporating Lessons From Prison into their curriculum. Both schools have also invited me to speak to their business schools this fall. A federal probation has invited me to speak about proactive prison adjustments to people headed to prison. I know I can help them better prepare for the road ahead. Like you, I am committed to addressing are country’s deplorable recidivism rates.
Can you believe that the United States, the greatest country in the world in so many ways, sits back and does nothing while so many prisoners fail? I had to go to prison to believe it. That is part of the problem.
Our prison system touches every one whether your live in Beverly Hills or the Projects. My 66 year-old unemployed mother recently received an IOU from the state of California. The state is broke funding our broken prison system.
I have a close friend who works at the California Wellness Foundation and we are making plans to work with correctional centers, youth centers, and prisons across the state. Together we can reduce or at least palliate the problem.
To help overcome the stigmas of a conviction, in my opinion, we need to own and recognize that we alone are responsible for our troubles with the law. Too many people in prison blame every one but themselves for their problems: “some rat put me here”… “it was an overzealous prosecutor,”…” it was an ethical violation and not a violation of the criminal code.” I used introspection, ethics, and philosophy as an antidote to better understand how a life that once had such promise and privilege had reduced itself to the life of a prisoner.
Now I plan to help others make better decisions so they never have to suffer our fate. I applaud any felon that has the courage to overcome the challenges our own decisions created.
