Ex-Dolphins Safety Reshad Jones Reaches $9.5M Settlement With Merrill Lynch Amid Adviser Theft Case

Former Miami Dolphins safety Reshad Jones has reached a $9.5 million settlement with Merrill Lynch, concluding an arbitration claim that accused one of the firm’s ex–financial advisers of stealing millions during Jones’ NFL career. The deal was finalized in August and became public this week. Merrill Lynch declined to comment.

According to a June 25 arrest report, adviser Isaiah Williams allegedly accessed Jones’ accounts without authorization and diverted $1.56 million through 133 transactions. Investigators say Williams funneled another $1.03 million through a Georgia woman, Octavia Monique Graham, via bank and Cash App transfers as part of a laundering scheme. Jones told police he does not know Graham.

Court filings allege Williams spent the money on luxury travel, hotels, strip clubs, jewelry, vehicles, and duty-free shopping in Mexico.

Williams, who previously worked for Merrill Lynch, was arrested in Palm Beach County and charged with multiple counts of organized fraud and grand theft, both first-degree felonies that can carry 30-year prison terms. He was released on $1 million bond and awaits trial, records show.

Jones initially sought $16 million in damages in his claim against Merrill Lynch, according to BrokerCheck records. In a joint statement to ESPN, his attorneys Chase Carlson and Jeff Sonn called the case “another troubling example of a professional athlete being exploited.”

Drafted in the fifth round in 2010 out of Georgia, Jones, 36, spent his entire 10-year career with Miami, appearing in 128 games (113 starts), earning two Pro Bowl selections and more than $56 million in career earnings.

Retired since 2020, he has largely stayed out of the spotlight, but his case underscores the ongoing vulnerability of athletes managing multimillion-dollar portfolios—and the need for rigorous oversight within the advisory industry.