Former Pro Bowl safety Reshad Jones, who spent 10 years with the Dolphins (2010 to 2019) has scored a very big victory away from football.
Via Xuan Thai of ESPN.com, Jones settled a lawsuit against Merrill Lynch for $9.5 million.
The liability arose from the activities of former Merrill Lynch employee Isaiah Williams, who allegedly stole $1.56 million from Jones’s financial accounts in 133 separate transactions. Williams allegedly worked with another person, Octivia Monique Graham, to steal an additional $1.03 million “through a complicated laundering scheme involving bank and cash app transfers.”
Jones initially sought $16 million from Merrill Lynch in an arbitration filing. The case was settled in August. Earlier this week, InvestmentNews reported on the resolution of the claim.
Williams faces criminal charges (first-degree organized fraud and first-degree grand theft) with a potential sentence of up to 30 years in prison. He’s currently free on $1 million bail.
The situation underscores one of the biggest challenges pro athletes face. Who can be trusted with their money?
Jones made more than $56 million during his NFL career. Where do you put it? How do you keep track of it?
And how do you protect it from those who may be tempted to pluck a stray cookie or two from an overstuffed jar?
