CFTC v. Yueyu Bao (matched orders, 2024)

Judgment entered

Checked against the primary document on October 4, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.

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In January 2024 the CFTC sued Chinese citizen Yueyu Bao over 33 prearranged trades of 410 CBOT futures contracts. Default judgment orders of July 31 and August 20, 2024 require a $260,140 penalty and $130,070 disgorgement and ban him from CFTC-regulated trading.

The record

Structured fields for this action, as recorded in our case library.
Agency	CFTC
Release number	8848-24
Date filed	2024-01-16
Date resolved	2024-08-20
Court	U.S. District Court, Central District of California
Status	judgment
Asset class	futures
Venue	CBOT, CME
Criminal parallel	No
Defendants	Yueyu Bao (individual)
Techniques	Matched orders

What was ordered

Civil penalty: $260k
Disgorgement: $130k
Prejudgment interest: —
Total relief: $390k
Alleged gain: —

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

The Commodity Futures Trading Commission announced this matter on January 16, 2024 as release 8848-24. The respondents named are Yueyu Bao (1 individual, 0 entities).

The complaint alleges Bao and his cousin, called "Trader A," coordinated closely and synchronised their bids and offers so their orders met in illiquid periods, transferring money between two accounts with different owners. We classify this as matched orders (a money pass), not wash trading.

This library tags the matter as matched orders, based on the conduct the regulator describes. Each tag links to a page explaining how that technique works, what statute it engages, and what penalties comparable actions have attracted. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

On October 24, 2024 the CFTC announced that Judge Sherilyn Peace Garnett of the Central District of California had granted its motion for default judgment, in relevant part, and entered final judgment against Bao. The court's orders of July 31 and August 20, 2024 require a civil monetary penalty of $260,140 and disgorgement of $130,070, and permanently enjoin Bao, ban him from trading in CFTC-regulated markets and from registering with the CFTC.

The release states that the orders resolve the action. As a default judgment, the findings were not tested at trial. Another record in this library covers the same judgment (cftc-yueyu-bao-matched-orders-2024).

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

Matched orders — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

2024-01-16 CFTC release published
2024-08-20 Final default judgment order; announced by the CFTC on October 24, 2024

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Same matter

The library links these 2 records because they appear to concern one matter: the same lead defendant, an overlapping technique tag and close filing dates, or a shared court docket or a release that cites the other. Records are listed by date filed.

Date filed	Agency	Record	Status
2024-01-16	CFTC	CFTC v. Yueyu Bao (matched orders, 2024)(this record)	Judgment entered
2024-10-24	CFTC	CFTC v. Yueyu Bao (matched orders, 2024)	Judgment entered

This grouping is the library's, made by matching names, techniques, dates and citations when the site is built. It is not the regulator's or a court's determination that the records are one case, and it errs towards missing a link rather than making a false one.

Other actions in the library sharing at least one technique tag with this one.

Action	Agency	Filed	Technique	Penalty	Status
SEC v. Corey Ortiz (free riding and parking, 2026)	SEC	2026-09-03	Free Riding And Parking , Matched Orders	—	judgment
SEC v. Christopher Flagg, Daquan Lloyd and Travis Treusch (free riding and parking, 2026)	SEC	2026-04-30	Free Riding And Parking , Matched Orders	—	judgment
SEC v. Eduardo Hernandez (free riding and parking, 2025)	SEC	2025-07-03	Free Riding And Parking , Matched Orders	—	judgment
CFTC v. Yueyu Bao (matched orders, 2024)	CFTC	2024-10-24	Matched Orders	$260k	judgment
SEC v. Giguiere et al. (undisclosed control blocks, 2024)	SEC	2024-06-13	Undisclosed Control Blocks , Matched Orders +1	$875k	judgment
SEC v. Eduardo Hernandez, Christopher Flagg, Daquan Lloyd and Corey Ortiz (free riding and parking, 2024)	SEC	2024-04-04	Free Riding And Parking , Matched Orders	—	settled

Record added September 10, 2026. submit a correction.