A monetary advisor from Financial institution of America’s wealth administration division is reportedly banned from the business amid allegations that he stole hundreds of thousands of {dollars} from his shopper’s account.
Former Merrill Lynch worker Isaiah Thomas Williams is now banned from the securities business after being accused of stealing $2.58 million from the account of retired NFL participant Reshad Jones, experiences WPLG Native 10.
Williams allegedly stole $1.58 million from Jones’ account in 133 wire transfers whereas performing as his monetary advisor from January 2022 to March 2024.
Police additionally accuse Williams of laundering $1.03 million from Jones’ account with assistance from 37-year-old Dallas resident Octavia Monique Graham. In accordance with the police, Williams obtained $435,000 from Graham’s checking account between October 2019 and September 2021. Williams additionally allegedly obtained $184,000 from Graham through 88 Zelle transfers.
Courtroom paperwork reveal that Williams used the previous Miami Dolphin security’s cash to repay his bank card payments and fund an extravagant way of life that included first-class airline tickets, buying sprees overseas, resort lodging and nightclub journeys. He additionally used Jones’ cash to buy luxurious gadgets reminiscent of high-end garments and jewellery, in addition to pay for youngster assist and authorized charges.
Williams was arrested on June twenty fifth and launched on July 2nd after posting a $1 million bail.
Says Financial institution of America,
“Each time we be taught of potential wrongdoing, we promptly examine, totally cooperate with regulators and legislation enforcement, and work with the shopper to compensate them for any hurt attributable to an worker. Placing purchasers first and defending shopper property have been guiding ideas of Merrill since our founding greater than 100 years in the past.”
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