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Retired Miami Dolphins safety Reshad Jones has agreed to a $9.5 million settlement with Merrill Lynch after a former financial adviser allegedly stole $2.59 million from the 10-year NFL veteran.
The deal was first reported by Investment News, which claims Jones sought a $16 million settlement with the investment brokerage firm.
Both Merrill Lynch and Jones’ legal team of Chase Carlson and Jeff Sonn have declined comment on the reported deal. Previously, Carlson and Sonn described the case as ‘another troubling example of a professional athlete being exploited by a wealth management firm he trusted.'
The agreement was reportedly finalized in August but not confirmed publicly until this week.
The case erupted over the summer when Isaiah Williams, Jones’ financial adviser with Merrill Lynch, and his alleged accomplice Octivia Monique Graham were arrested and accused of swindling the retired football star.
Williams is allegedly used his position to access Jones’ accounts to steal $1.56 million. Furthermore, Williams and Graham are accused of stealing an additional $1.3 million from Jones through a banking-app money-laundering scheme.
Retired Miami Dolphins safety Reshad Jones has agreed to a $9.5 million settlement with Merrill Lynch after a former financial adviser allegedly stole $2.59 million from him
Isaiah Williams (pictured), Jones’ financial adviser with Merrill Lynch, and alleged accomplice Octivia Monique Graham were arrested and accused of swindling the ex-Dolphin
Graham (pictured) has entered a plea of not guilty, while Williams is awaiting trial
Jones told police he never met Graham.
Williams allegedly used the money to go on expensive vacations and shopping sprees in Mexico.
A spokesman for Bank of America, Merrill Lynch's parent company, confirmed to Daily Mail that Williams worked for the company. His employment ended in December of 2024.
Williams was booked on counts of first-degree organized fraud and first-degree grand theft, both of which carry 30-year sentences if convicted, as well as communications fraud and identity theft. He is out on $1 million bond and currently awaiting a November 13 hearing at Broward County Criminal Court.
Graham has pleaded not guilty in the case while Williams has yet to enter a plea.
A two-time Pro Bowl selection and former All-SEC player at Georgia, Jones neared nearly $60 million in the NFL.
