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Reshad Jones, who spent a decade with the Miami Dolphins, settled his lawsuit against financial services firm Merrill Lynch.
The former NFL safety was awarded $9.5 million after alleging that a former company financial advisor defrauded him of approximately $2.6 million. The agreement was reached in August, but public reports on the case were not available until this week.
Investment News was the first to report details of the deal.
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Reshad Jones (20) of the Miami Dolphins before the game against the Tennessee Titans at Hard Rock Stadium on September 9, 2018 in Miami, Florida. (Mark Brown/Getty Images)
An arrest report issued in June indicated that Williams took advantage of his position at Merrill Lynch to improperly access Jones’ personal financial information and subsequently stole at least $1.56 million in a series of separate transactions.
An additional $1.03 million was embezzled through a complex money laundering scheme involving bank and mobile app transfers.
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A woman named Octivia Monique Graham was named as a participant in the scheme, ESPN reported. Investigators said Jones claimed he had never met Graham.
Miami Dolphins free safety Reshad Jones (20) celebrates a victory against the Atlanta Falcons at Mercedes-Benz Stadium on October 15, 2017 in Atlanta, Georgia. (Brett Davis/USA TODAY Sports)
Jones filed a complaint with the Financial Industry Regulatory Authority, an organization under the supervision of the U.S. Securities and Exchange Commission. An arbitration filing against Merrill Lynch initially sought damages totaling $16 million, BrokerCheck documents showed.
Reshad Jones (20) of the Miami Dolphins in action against the Jacksonville Jaguars at Hard Rock Stadium on December 23, 2018 in Miami, Florida. (Mark Brown/Getty Images)
Williams was arrested in Palm Beach County, Florida, in June on charges of first-degree organized fraud and first-degree grand theft. Palm Beach County Sheriff’s Office records show Williams is currently out on bond while awaiting trial.
Thomas resigned from Merrill Lynch and “is not currently registered as an investment advisory representative,” FINRA records show.
“In this case, the wrongdoer was a vice president of one of the largest financial institutions in the world: the investment management division of Bank of America, Merrill Lynch,” Chase Carlson of Carlson Law and Jeff Sonn of Sonn Law, Jones’ attorneys of record, said in a statement in July.
The 2019 season marked Jones’ final year in the NFL. He appeared in 128 games and finished his career with 21 interceptions.
Editor’s note: This story has been updated to reflect proper attribution.
