By Kenneth Corbin
A former Merrill Lynch advisor and a co-defendant are facing criminal charges in Florida for allegedly stealing nearly $2.6 million from a wealthy client, a former professional football player.
Lawyers for the client, former Miami Dolphins safety Reshad Jones, are also suing Merrill Lynch for damages.
The former advisor, Isaiah T. Williams Jr., is facing four charges, including fraud, theft, and money laundering, in connection with the alleged scheme.
He was arrested on June 25 and released on a $1 million bond July 2, according to police records. Williams, who was arrested in Palm Beach County and faces charges in Broward County, couldn't immediately be reached for comment.
An official with the Broward County state attorney's office says Williams hasn't formally retained a lawyer in the matter. A criminal-defense lawyer who has been making queries on his behalf to the prosecution didn't immediately respond to a request for comment. Another lawyer, who represented Williams in a civil regulatory matter that resulted in his expulsion from the industry earlier this year, didn't immediately respond to a request for comment, nor did a registered investment advisory firm Williams joined after he resigned from Merrill as it was looking into a client complaint that he was misappropriating funds.
Prosecutors say that Williams abused his position as Jones' advisor to siphon $1.56 million from the client's Bank of America account through 133 separate transfers to two of his personal American Express card accounts. Prosecutors say Williams used the money for a variety of personal expenses, including travel, strip clubs, child support, and legal fees.
Prosecutors further allege that Williams worked with his co-defendant, Octavia Monique Graham, to help launder just over $1 million of Jones' money through various accounts. They say the total theft amounted to $2.59 million.
Graham turned herself in to authorities June 30 and remains in custody, according to a Broward County official. The county public defender's office, which is representing Graham in the matter, didn't immediately respond to a request for comment.
Jones played safety for the Dolphins from 2010 through 2019, and was twice selected to the NFL Pro Bowl. He earned $58.2 million over the course of his playing career, according to Spotrac.
"This is yet another troubling example of a professional athlete being exploited by a wealth management firm he trusted," say Jones' lawyers, Chase Carlson and Jeff Sonn. "In this case, the wrongdoer was a vice president at one of the world's largest financial institutions -- Bank of America's investment management division, Merrill Lynch."
Williams began his brokerage career in 2016 with a brief stint at UBS before moving to Merrill Lynch the following year, according to regulatory records. At UBS, he worked on the large team led by Andrew Burish, who has since been targeted by investor complaints stemming from a short-selling strategy involving Tesla stock.
In December 2024, Williams resigned from Merrill. In April 2025, he accepted a ban from the industry rather than cooperate with an investigation led by Finra, the broker industry's self-regulatory authority.
Now, Jones is seeking damages in a Finra arbitration forum. A Merrill Lynch spokesman declined to comment on the case but the firm says it is fully committed to protecting client assets from fraud.
"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," Merrill says.
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(END) Dow Jones Newswires
July 09, 2025 11:09 ET (15:09 GMT)
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