Police in Florida arrested a former financial advisor for Merrill Lynch in connection with the theft of funds from one of his clients who was an NFL player, Investment News reported.
The case involves Isaiah T. Williams, who was the advisor for ex-Miami Dolphins defensive safety Reshad Jones from January 2022 to March 2024. According to the charges, Williams stole $1.6 million from Jones’ Bank of America account in more than 130 transactions and wired the money to his own accounts. He also allegedly laundered an additional $1.3 million from Jones’ accounts between 2019 and 2021 by transferring funds to accounts owned by a woman and then shifting most of the money to his own accounts.
Authorities said Williams used the stolen funds for his own personal expenditures, including airline tickets, hotels, car rentals, child support payments, legal fees, rent, clothing and jewelry.
Also charged in the case was 53-year-old Octavia Monique Graham, who faces grand theft and money laundering charges for allegedly helping Williams with the scheme.
Williams was released on $1 million bond following his arrest, the Palm Beach Sheriff’s Office said He worked at Merrill Lynch in Boca Raton, Florida from 2017 to December 2024, when he resigned voluntarily after the firm said his work conduct allegedly involved misappropriation, or theft, unsuitable asset allocation, misrepresentation and an outside business activity, according to his BrokerCheck report.
Williams is no longer registered with the SEC or the Financial Industry Regulatory Authority. FINRA barred him in April, citing failure to provide information in connection with an investigation into the U5 tied to his resignation and a December customer complaint alleging “misappropriation.” FINRA ruled that Williams did not cooperate with its investigation of his past while not admitting or denying the results.
Jones played safety for the Miami Dolphins in 128 games from 2010 to 2019, making the Pro-Bowl twice. He earned more than $58 million in his career according to Spotrac.com, which tracks contract and salary information for pro athletes.
“This is yet another troubling example of a professional athlete being exploited by a wealth management firm he trusted,” said Jones’ attorneys, 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. We have filed a lawsuit to hold Merrill Lynch accountable and are working to recover all damages our client has suffered.”
A Merrill Lynch spokesperson stated, “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.”
At Hyman Cotter PC, we represent clients nationwide who are the victims of unauthorized trading, breaches of fiduciary duty and other forms of financial adviser misconduct and securities fraud. Our team of lawyers brings a diverse range of knowledge and experiences to our clients’ cases. If your financial adviser made trades without your consent, you may be able to pursue a lawsuit to recoup your losses. We’ll help you understand your rights and options. Contact us at 312-291-4600 or email our team to learn more.
