A monetary advisor from Financial institution of America’s wealth administration division is reportedly banned from the business amid allegations that he stole tens of millions 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, reviews WPLG Native 10.
Williams allegedly stole $1.58 million from Jones’ account in 133 wire transfers whereas appearing 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 keeping with the police, Williams acquired $435,000 from Graham’s checking account between October 2019 and September 2021. Williams additionally allegedly acquired $184,000 from Graham by way of 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 objects comparable to high-end garments and jewellery, in addition to pay for little one help 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,
“At any time when we be taught of potential wrongdoing, we promptly examine, totally cooperate with regulators and regulation enforcement, and work with the shopper to compensate them for any hurt brought on by an worker. Placing shoppers 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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