Michael Patrick Raineri (CRD #4817558, Seattle, Washington)

An AWC was issued in which Michael Patrick Raineri (CRD #4817558) was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Raineri consented to the sanction and to the entry of findings that he converted customer funds. The findings stated that at the request of one of his customers, Michael Patrick Raineribegan paying some personal expenses for the customer. Over time, Ranieri caused the customer to pay him at least $135,000, ostensibly to reimburse him for the payments he had made. However, the payments to Raineri far exceeded the customer’s expenses Raineri had paid, and he was not entitled to the extra funds. (FINRA Case #2023078057401)