Barred Merrill Lynch advisor arrested in $2.58 million scam against ex-Dolphins star Reshad Jones

Police have made two arrests connected to the alleged $2.58 million robbery of former Dolphins safety Reshad Jones.

Jones’ ex-financial advisor Isaiah T. Williams was arrested in Florida on June 25 on an out-of-county warrant for his alleged role in the scheme, according to investmentnews.com.

Initial reporting on the story last week revealed only Octavia Monique Graham had been jailed after surrendering to authorities on June 30 and being charged with two counts of money laundering and one count of first-degree grand theft, according to local10.com.

Williams served as Jones’ financial advisor from January 2022 through March 2024, per Local 10, and is alleged by Fort Lauderdale police to have stolen $1.58 million from Jones’ bank account via 133 wire transfers to pay off balances on two American Express credit cards.

The money paid for lavish expenditures, including first-class airline tickets, hosting several women at hotels, designer clothes, jewelry, visits to nightclubs and strip clubs, car rentals and legal fees, while police also told Local 10 that Williams used the money for duty-free splurges in Mexico.

Williams worked at a Merrill Lynch branch in Boca Raton, Fla. from 2017 until his voluntary resignation last December, according to his brokercheck.com profile.

A LinkedIn profile purportedly belonging to Williams lists his title as vice president, senior financial advisor and senior portfolio advisor.

Allegations of “conduct involving misappropriation, unsuitable asset allocation, misrepresentations and an improper outside business activity” were filed against him, per the website.

The website details one client alleging misrepresentation and improper outside business activity from March 2019 until May 2024, while another filed an allegation on Dec. 16, 2024 of misappropriation, unsuitable asset allocation strategy, misrepresentations and improper outside business activity.

His profile notes that “FINRA (Financial Industry Regulatory Authority) has barred this individual from acting as a broker or otherwise associating with a broker-dealer firm.” FINRA ruled that Williams did not cooperate with its investigation of his past while not admitting or denying the results.

Police released him on July 2 with a $1 million bond, the Palm Beach Sheriff’s Office told investmentnews.com.

“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,” Merrill Lynch said in a statement last week. “Putting clients first and protecting client assets have been guiding principles of Merrill since our founding more than 100 years ago.”

Williams is alleged to have also conspired with Graham to steal another $1.03 million from Jones, with 16 checks totaling roughly $435,000 from Graham’s account being deposited to Williams’ Chase account from October 2019 to September 2021.

Graham, 52, allegedly also made 88 Zelle transfers worth $184,000 from her Bank of America account to Williams, according to the Local 10 report.

Police provided the $2.58 million figure to the outlet.

Graham reportedly had been held at the Paul Rein Detention Facility in Pompano Beach, Fla. on a $750,000 bond, and pleased not guilty Monday, per investmentnews.com.

Jones, who played for the Dolphins from 2010-19 and made two Pro Bowls, reportedly told police he intended to press charges.

“This is yet another troubling example of a professional athlete being exploited by a wealth management firm he trusted,” Jones’ attorneys, Chase Carlson and Jeff Soon, said in a statement. “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.”