A former Miami Dolphins Pro Bowl defensive back, Reshad Jones, received a $9.5 million settlement in August from Merrill Lynch, where Jones’ former financial advisor worked before being arrested and charged this summer for alleged criminal activities, including grand theft, fraud and money laundering.
The ex-advisor, Isaiah T. Williams, worked at Merrill Lynch in Boca Raton, Fla., from 2017 to the end of last year, according to his BrokerCheck profile, when he voluntarily resigned from the firm in the wake of allegations of “conduct involving misappropriation, unsuitable asset allocation, misrepresentations and an improper outside business activity.”
Williams could not be reached Wednesday to comment, and a spokesperson for Merrill Lynch also declined to comment about the settlement, which was reached on August 14 but did not appear on FINRA’s BrokerCheck until recently.
Jones is listed in state records as the client who filed a complaint last year against Merrill Lynch and Williams. Jones originally claimed $16 million in damages, alleging the same charges Merrill Lynch listed in Williams’ resignation.
Jones’ attorneys, Chase Carlson and Jeff Sonn, declined to comment.
Williams, 33, was arrested in Florida in June for his alleged involvement in the theft of almost $2.6 million from Jones, a former Miami Dolphins safety.
Williams allegedly used the stolen funds for numerous personal expenses, according to police and court records. Williams was arrested June 25 on an out-of-county warrant, meaning the warrant for arrest was issued in a different county.
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.
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 Octavia Graham, who also has been charged, according to those records.
Williams has also been charged with communications fraud and identity theft, according to court records. His next scheduled court appearance is a hearing November 13 in Broward County Criminal Court. Another client filed a $3.5 complaint in July involving Williams against the firm, according to his BrokerCheck profile.
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.
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