Ex-NFL Player Reshad Jones Gets $9.5M Settlement After Financial Advisor Steals Funds

Former Miami Dolphins safety Reshad Jones has received a $9.5 million settlement from Merrill Lynch after his former advisor, Isaiah T. Williams, allegedly stole $2.6 million in funds.

Brett Kelly of InvestmentNews first reported the settlement, which occurred on Aug. 14 and just recently appeared on FINRA's BrokerCheck.

Per Kelly, Jones originally claimed damages totaling $16 million. He alleged "conduct involving misappropriation, unsuitable asset allocation, misrepresentations and an improper outside business activity."

Those allegations were the same charges listed as reasons why Williams, who worked for Merrill Lynch from 2017 through the end of 2024, voluntarily resigned per his BrokerCheck profile.

Kelly explained the allegations against Williams in more detail.

"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."

According to ESPN's Xuan Thai, Williams was booked at the Palm Beach County Sheriff's office last June. He was indicted on four counts. Most notably, they include first-degree organized fraud and first-degree grand theft, and they are each punishable by up to 30 years in prison, per Thai.

The Palm Beach County sheriff's office database, per Thai, reveals that the 33-year-old Williams is out on a $1 million bond.

Kelly reported that Williams is scheduled to appear at a hearing in Broward County Criminal Court on November 13.

Jones' attorneys, Chase Carlson of Carlson Law, P.A. and Jeff Sonn of Sonn Law Group, P.A., previously released a statement in July shortly after Ryan Mackey and Christina Vazquez of Local 10 News broke news regarding the matter.

"This is yet another troubling example of a professional athlete being exploited by a wealth management firm he trusted. 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. We have filed a lawsuit to hold Merrill Lynch accountable and are working to recover all damages our client has suffered."

The 37-year-old Jones is a two-time Pro Bowler who played his entire 10-year NFL career (2010-2019) with the Dolphins, making $58.1 million during his time in the league, per Over the Cap.

He played in 128 games (113 starts) and amassed 776 tackles (599 solo), 55 pass breakups, 21 interceptions (four for touchdowns), 16 quarterback hits and 10.5 sacks. Jones also scored two touchdowns on fumble recoveries.