Former Miami Dolphins safety Reshad Jones has settled a lawsuit against Merrill Lynch for $9.5 million. The settlement, which occurred in August but was publicly reported last week, stems from the alleged theft of $2.59 million by his former financial adviser, Isaiah Williams.
According to a June 25 arrest report cited by ESPN, Williams, a former Merrill Lynch employee, exploited his position to access Jones’ personal financial accounts.
Williams allegedly stole $1.56 million across 133 transactions. An additional $1.03 million was reportedly taken through a complex laundering scheme involving bank and cash app transfers between Williams and Octivia Monique Graham, a Georgia-based woman Jones claims he never met.
Court records state that Williams allegedly used the funds for personal expenses, including airline tickets, hotels, strip clubs, cars, jewelry, and duty-free shopping in Mexico.
Investment News first reported the settlement on October 8. Merrill Lynch chose not to comment. Jones’ attorneys, Chase Carlson and Jeff Sonn, also declined to comment, referring ESPN to a prior statement where they described the situation as “another troubling example of a professional athlete being exploited.”
BrokerCheck, an online database providing information on brokers and financial institutions, indicates that Jones initially sought $16 million in damages in an arbitration filing against Merrill Lynch.
Williams was booked in June by the Palm Beach County, Florida, sheriff’s office on four counts, including first-degree organized fraud and first-degree grand theft. Both offenses carry a maximum sentence of 30 years in prison. He is currently out on a $1 million bond and awaiting trial, according to the sheriff’s office database.
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Graham has entered a plea of not guilty, while Williams has not yet entered a plea. A spokesman for Bank of America, Merrill Lynch’s parent company, confirmed that Williams was an employee of the company, but his employment concluded in December 2024, according to the Daily Mail.
Jones, a fifth-round draft pick from Georgia in 2010, spent his entire 10-year NFL career with the Dolphins. He played 128 games, starting 113, and earned over $56 million during his playing career, as reported by Over the Cap.
