Former All-Pro Reshad Jones, a two-time Pro Bowler who spent his whole career with the NFL’s Miami Dolphins, has secured a significant legal win by reaching a $9.5 million settlement with Merrill Lynch, according to the Bleacher Report.

Reshad Jones Merrill Lynch Settlement

The settlement follows allegations that Jones’ former Merrill Lynch advisor, Isaiah T. Williams, took roughly $2.6 million from the football player. According to the outlet, the agreement was finalized on Aug. 14 and recently appeared on the advisor’s regulatory record. In his initial arbitration filing, Jones sought about $16 million in damages, citing unsuitable asset allocation, misrepresentations, unauthorized use of funds, and improper outside business activity by his advisor.

Williams, who worked for the firm from 2017 through the end of 2024, reportedly orchestrated a scheme that siphoned funds from Jones. The allegations include more than 130 unauthorized transactions totaling about $1.6 million from Jones’ Bank of America bank account between January 2022 and March 2024. Another roughly $1 million was allegedly laundered with the help of an accomplice, Octavia Graham, per the Bleacher Report.

Court and police records, according to the outlet, detail how Williams used the stolen funds to pay for airline tickets and hotel stays with multiple women, car rentals, nightclubs and strip clubs, child support payments, legal fees, designer clothes, and personal jewelry.

According to ESPN, Williams was arrested in June 2025 by the Palm Beach County Sheriff’s Office in Florida and freed on a $1 million bond. He has been indicted on four counts, including first-degree organized fraud and first-degree grand theft, each carrying potential penalties of up to 30 years in prison.

Jones’ legal team, led by attorneys Chase Carlson of Carlson Law and Jeff Sonn of Sonn Law Group, issued a previous statement characterizing the case as “another troubling example of a professional athlete being exploited by a wealth-management firm he trusted.” They emphasized that the wrongdoer was a vice president at one of the world’s largest financial institutions and said they had filed the suit to hold Merrill Lynch accountable and recover all damages suffered. Merrill Lynch is Bank of America’s investment management division.

In his career, Jones earned more than $58 million over 10 seasons with the Dolphins (2010–2019), according to CBS Sports. During that time, he recorded 776 tackles, 21 interceptions, 10.5 sacks, two fumble-recovery touchdowns, and multiple Pro Bowl selections.