A financial advisor from Bank of America’s wealth management division is reportedly banned from the industry amid allegations that he stole millions of dollars from his client’s account.
Former Merrill Lynch employee Isaiah Thomas Williams is now banned from the securities industry after being accused of stealing $2.58 million from the account of retired NFL player Reshad Jones, reports WPLG Local 10.
[adinserter block="1"]Williams allegedly stole $1.58 million from Jones’ account in 133 wire transfers while acting as his financial advisor from January 2022 to March 2024.
Police also accuse Williams of laundering $1.03 million from Jones’ account with the aid of 37-year-old Dallas resident Octavia Monique Graham. According to the police, Williams received $435,000 from Graham’s checking account between October 2019 and September 2021. Williams also allegedly received $184,000 from Graham via 88 Zelle transfers.
Court documents reveal that Williams used the former Miami Dolphin safety’s money to pay off his credit card bills and fund an extravagant lifestyle that included first-class airline tickets, shopping sprees abroad, hotel accommodations and nightclub trips. He also used Jones’ money to purchase luxury items such as high-end clothes and jewelry, as well as pay for child support and legal fees.
Williams was arrested on June 25th and released on July 2nd after posting a $1 million bail.
Says Bank of America,
“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. Putting clients first and protecting client assets have been guiding principles of Merrill since our founding more than 100 years ago.”
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