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juan thai
East miami dolphins Security Reshad Jones has settled a $9.5 million lawsuit against Merrill Lynch after a former financial advisor Allegedly stole $2.59 million From the two-time Pro Bowler. The settlement was reached in August, but public reporting was delayed until this week.
According to a June 25 arrest report, Isaiah Williams – Jones’ former financial advisor and former Merrill Lynch employee – used his position to gain access to Jones’ personal financial accounts to steal $1.56 million in 133 separate transactions. Another $1.03 million was stolen through a complex laundering scheme involving bank and cash app transfers between Williams and a Georgia-based woman, Octivia Monique Graham. Jones told investigators that he had never met the woman.
Court records allege Williams used the money to pay for personal expenses such as airline tickets to Mexico and hotels, strip clubs, cars, jewelry and duty-free shopping.
Investment News first reported the deal on Wednesday. Merrill Lynch declined to comment. Jones’ attorneys, Chase Carlson and Jeff Son, declined to comment and referred him to a previous statement to ESPN, where they called the situation “another disturbing example of the exploitation of a professional athlete.”
Jones originally sought $16 million in damages in an arbitration filing against Merrill Lynch, according to documents from BrokerCheck, an online database that compiles information about brokers and financial institutions.
The Palm Beach County, Florida, Sheriff’s Office charged Williams in June on four counts, including first-degree organized fraud and first-degree grand theft, which carry penalties of up to 30 years in prison. According to the Sheriff’s Office database, Williams is currently being held on $1 million bond and awaiting trial.
Jones was a fifth-round draft pick out of Georgia in 2010. He spent his entire 10-year NFL career with the Dolphins, where he played in 128 games, starting 113. According to Over the Cap, Jones earned more than $56 million in his playing career.
