Former Miami Dolphins safety Reshad Jones has reached a legal settlement with Merrill Lynch for $9.5 million. The resolution came after a former financial advisor allegedly stole $2.59 million from him.
The agreement, which was finalized in August, was publicly reported this week.
According to a June 25 arrest report, Isaiah Williams, a former financial advisor to Jones and a former Merrill Lynch employee, used his position to access Jones’ personal financial accounts and steal $1.56 million through 133 separate transactions. Another $1.03 million was stolen through a complicated money laundering scheme involving bank transfers and cash app transfers between Williams and a Georgia woman, Octivia Monique Graham. Jones stated to investigators that he had never met the woman.
Court documents allege that Williams used the money for personal expenses such as plane tickets, hotels, strip clubs, cars, jewelry, and duty-free shopping in Mexico.
Originally, Jones sought $16 million in damages in an arbitration filing against Merrill Lynch.
In June, the Palm Beach County Sheriff’s Office, Florida, arrested Williams on four counts, including first-degree organized fraud and first-degree grand theft, both punishable by up to 30 years in prison. Williams is currently out on a $1 million bond and awaiting trial, according to the sheriff’s office database.
Jones, selected in the fifth round of the 2010 draft, played his entire 10-year NFL career with the Dolphins, participating in 128 games and starting 113. During his career, Jones earned more than $56 million.
