Overview

• InvestmentNews first reported that the settlement was finalized on Aug. 14, with the payout recently appearing on FINRA’s BrokerCheck.
• Former adviser Isaiah T. Williams is accused of stealing about $2.59 million from Jones, including $1.56 million through 133 unauthorized transactions and roughly $1.03 million laundered with Georgia resident Octivia Monique Graham, who also faces charges.
• Police and court records say the diverted funds covered airfare, hotels, nightclub and strip club tabs, cars, jewelry, duty-free shopping in Mexico, child support, legal fees and rent.
• Williams was booked on June 25 on four felony counts, including first-degree organized fraud and first-degree grand theft, posted a $1 million bond and has a Broward County court hearing set for Nov. 13.
• Jones initially sought $16 million in arbitration; Merrill Lynch declined comment, and a separate former client has filed a $3.5 million complaint alleging similar misconduct.