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Reshad Jones, who spent a decade with Miami Dolphins, settled his lawsuit against the financial service company Merrill Lynch.
The former NFL security was awarded $ 9.5 million after claiming a former financial adviser at the company is deceiving him at about $ 2.6 million. The settlement was reached in August, but public reporting on the case was not made available until this week.
Investment news was the first to report details of the settlement.
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Reshad Jones (20) from 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 stated that Williams took advantage of his position in Merrill Lynch to unlawfully access Jones’ personal financial information and subsequently stole at least $ 1.56 million over a series of separate transactions.
Another $ 1.03 million was enclosed through a complex laundering scheme involving bank and mobile app transfers.
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A woman named Octivia Monique Graham was appointed participant in the scheme, ESPN reported. Investigators said Jones said he had never met Graham.
Miami Dolphin’s Free Safety Reshad Jones (20) celebrates a win against Atlanta Falcons at Mercedes-Benz Stadium on October 15, 2017 in Atlanta, Georgia. (Brett Davis/USA Today Sports)
Jones filed a complaint with Financial Industry Regulatory Authority, an organization under the supervision of the US Securities and Exchange Commission. An arbitration that was filing against Merrill Lynch was initially sought to damage a total of $ 16 million, shown documents from Brokercheck.
Reshad Jones (20) from Miami Dolphins in action against Jacksonville Jaguars at Hard Rock Stadium on December 23, 2018 in Miami, Florida. (Mark Brown/Getty Images)
Williams was taken into custody in Palm Beach County, Florida in June at the first degree organized fraud and first degree major theft. Palm Beach County Sheriff’s Office Records shows that Williams is currently out on bond when waiting for trial.
Thomas has withdrawn from Merrill Lynch and “is not currently registered as an investment adviser representative,” Finra Records showed.
“In this case, the wrongdoing was a vice president of one of the world’s largest financial institutions – Bank of America’s Investment Management Division, Merrill Lynch,” said Chase Carlson of Carlson Law and Jeff Sonn of Sonn Law, Jones for Jones for Jones, in a July statement.
The 2019 season marked Jones’ last year in the NFL. He performed in 128 games and ended his career with 21 intercepts.
Editor’s Note: This story has been updated to reflect appropriate attribution.
