A former Merrill Lynch financial advisor is facing criminal charges in Florida after allegedly misappropriating nearly $2.6 million from a high-net-worth client—former Miami Dolphins Pro Bowl safety Reshad Jones. The case highlights ongoing concerns among wealth professionals about the vulnerabilities faced by professional athletes and other affluent clients.
The advisor, Isaiah T. Williams Jr., has been charged with fraud, theft, and money laundering. His arrest took place in Palm Beach County on June 25. He was released on a $1 million bond on July 2. The charges, filed in Broward County, stem from a pattern of alleged financial misconduct carried out during his tenure at Merrill Lynch.
Attorneys representing Jones have also filed a civil suit against Merrill Lynch, seeking damages for the firm’s alleged failure to supervise its advisor adequately. They argue that Merrill, a division of Bank of America, failed in its fiduciary duty to safeguard the client’s assets.
“This case illustrates the dangers that arise when wealth management firms fail to enforce adequate internal controls,” said Chase Carlson and Jeff Sonn, attorneys for Jones. “Our client trusted one of the world’s largest financial institutions to act in his best interest. Instead, he was exploited by a vice president within their ranks.”
According to prosecutors, Williams orchestrated 133 unauthorized transfers totaling $1.56 million from Jones’ Bank of America accounts to his personal American Express cards. The funds allegedly went toward personal expenses including luxury travel, strip clubs, child support payments, and legal fees.
The charges further allege that Williams colluded with a co-defendant, Octavia Monique Graham, to launder more than $1 million of the misappropriated funds through various financial accounts. Prosecutors say the total fraud reached $2.59 million. Graham surrendered to authorities on June 30 and remains in custody. The public defender’s office representing her has not commented.
Jones, who earned over $58 million during his NFL career, is now pursuing restitution through Finra’s arbitration process. His lawyers argue that Merrill Lynch shares responsibility, noting that Williams’ role and title within the firm lent him credibility that helped facilitate the deception.
Regulatory records show Williams began his career at UBS in 2016 before moving to Merrill Lynch the following year. While at UBS, he worked under a high-profile team led by Andrew Burish, who has himself faced client complaints related to short-selling strategies involving Tesla stock.
Williams resigned from Merrill in December 2024 amid an internal investigation into a client complaint. In April 2025, he accepted a permanent bar from the securities industry following a Finra enforcement inquiry, choosing not to cooperate with regulators.
After leaving Merrill, Williams joined an independent registered investment advisory firm, which has not commented on the allegations. That firm is also expected to face scrutiny in the broader investigation, particularly regarding due diligence protocols for new hires.
Merrill Lynch has not publicly addressed the specific details of the case but released a statement affirming its commitment to protecting clients.
“Whenever we become aware of potential misconduct, we act swiftly to investigate, work closely with regulators and law enforcement, and take appropriate steps to ensure the client is made whole,” the firm said in a statement.
The case serves as a stark reminder to RIAs and wealth managers of the importance of robust compliance programs and proactive client oversight—especially when serving clients with significant income and complex financial needs.
As Jones awaits resolution through arbitration and the criminal justice system moves forward, the case is already prompting discussions within the advisory community about risk management, advisor vetting, and the fiduciary responsibilities inherent in client relationships.
