A former Merrill Lynch financial advisor, Isaiah T. Williams, was arrested in Florida last month for his alleged involvement in the theft of almost $2.6 million from Reshad Jones, a one-time Miami Dolphins safety.
Press reports from this week and last reported that Octavia Monique Graham, 53, surrendered to Fort Lauderdale police at the end of June and was charged in the matter but overlooked the arrest of Williams, whose age is not known.
The former advisor, Isaiah Williams, allegedly used the stolen funds for numerous personal expenses, according to police and court records. Williams, who worked at Merrill Lynch in Boca Raton from 2017 to the end of last year, was arrested June 25 on an out-of-county warrant, meaning the warrant for arrest was issued in a different county.
Williams was Jones' financial advisor from January 2022 to March 2024 and allegedly stole $1.6 million from Jones' Bank of America account in more than 130 transactions, according to police and court records. Williams earlier laundered another $1 million, with the aid of Graham, according to those records.
Williams allegedly used the stolen funds for numerous personal expenses, according to police and court records, including airline tickets and hotels for himself and women he was dating, car rentals, night clubs and strip clubs. He also allegedly used the stolen funds for child support payments, legal fees, rent, designed clothing and jewelry.
He was released July 2 with a bond of $1 million, according to the Palm Beach Sherrif’s Office website.
Williams resigned voluntarily last December after Merrill Lynch leveled allegations against him that his work conduct allegedly involved misappropriation, or theft, unsuitable asset allocation, misrepresentation and an outside business activity, according to his BrokerCheck report. Shortly before he left the firm, a client filed a complaint alleging misappropriation, according to BrokerCheck.
Four months later, he was barred from the securities industry in a settlement with the Financial Industry Regulatory Authority Inc., which determined that Wiliams had not cooperated with its investigation into his work history, including his resignation from Merrill Lynch.
Jones played safety for the Miami Dolphins in 128 games from 2010 to 2019, making the Pro-Bowl twice. According to Spotrac.com, Jones earned more than $58 million in his career.
Professional athletes, particularly football players, are often targets of scam artists. They are particularly vulnerable to fraud because of their short careers, high potential annual salaries, lack of financial expertise and the fact that their families often depend on them as breadwinners.
“This is yet another troubling example of a professional athlete being exploited by a wealth management firm he trusted,” wrote Jones’ attorneys, Chase Carlson and Jeff Sonn, in a statement. “We have filed a lawsuit to hold Merrill Lynch accountable and are working to recover all damages our client has suffered.”
On his LinkedIn profile, Williams lists his title at Merrill Lynch as vice president, senior financial advisor, senior portfolio advisor.
“Whenever we learn of potential wrongdoing, we promptly investigate, fully cooperate with regulators and law enforcement, and work with the client to compensate them for any harm caused by an employee,” wrote a Merrill Lynch spokesperson in an email.
Meanwhile, Graham on June 30 was arrested and charged with one count of grand theft in the first degree, with her target allegedly Jones, according to the Broward Count affidavit of her arrest. She pleaded not guilty Monday, according to court records.
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