Penalty Amount
$5,000,000
New York Attorney General Letitia James secured a $5 million settlement from cryptocurrency platform Uphold HQ, Inc. for promoting Cred’s fraudulent CredEarn investment product as safe and reliable, when Cred was making risky loans to uncreditworthy borrowers in China. Uphold also falsely claimed Cred had comprehensive insurance and promoted the product without registering as a broker or commodity broker-dealer under New York law. As part of the settlement, Uphold will pay $5 million to harmed investors, remit $545,189 from Cred’s bankruptcy to customers, improve due diligence policies for third-party products, and register as a broker with the OAG.
Uphold will pay $5 million to customers who suffered losses from investing in CredEarn, and will remit all $545,189 received from Cred’s bankruptcy proceedings to harmed customers. Uphold must maintain and improve due diligence policies for third-party investment products, register as a broker with the OAG, and notify investors via email about fund distributions.
In-house legal teams at financial services and cryptocurrency platforms should review third-party partnership agreements to incorporate mandatory due diligence requirements for any investment products promoted on their platforms, including verification of regulatory registration (e.g., broker-dealer status), validation of insurance coverage claims, and accurate risk disclosures to customers. Customer-facing agreements and marketing materials should be audited to eliminate misleading claims about product safety or insurance protections. Vendor agreements should include clauses requiring third parties to comply with all applicable broker registration laws, and customer agreements should clearly outline refund processes for losses stemming from third-party product failures. Internal compliance policies governing third-party product promotion should be formalized into enforceable contractual obligations across all partnership agreements.
Entity
Uphold HQ, Inc.
Industry
Financial ServicesOfficial Press Release
https://ag.ny.gov/press-release/2026/attorney-general-james-secures-over-5-million-crypto-platform-promoting
uphold hq inc assurance of discontinuance 2026
https://ag.ny.gov/sites/default/files/settlements-agreements/uphold-hq-inc-assurance-of-discontinuance-2026.pdf
New York Attorney General Enforcement Page
https://ag.ny.gov/press-releases
"Attorney General James Secures Over $5 Million from Crypto Platform for Promoting Fraudulent Investment Scheme"
"April 29, 2026"
"New York Attorney General Letitia James"
"As a result of today’s settlement"
"Uphold HQ, Inc. (Uphold)"
"Uphold will pay $5 million to harmed investors"
$3.3M
New York Attorney General James announced a multistate settlement with three major egg producers for illegally coordinating to influence a daily egg price index, artificially inflating prices for consumers. The companies will deliver 53 million eggs to food banks and pay $3.3 million, along with adopting compliance measures.
$3.3M
New York Attorney General Letitia James, along with the U.S. Department of Justice and 16 other states, reached a settlement with three major egg producers—Cal-Maine Foods, Versova/Centrum, and Hickman's Egg Ranch—for illegally coordinating to manipulate the Urner Barry price index, artificially inflating egg prices nationwide. The companies will deliver 53 million eggs to food banks across participating states, pay $3.3 million, and adopt compliance measures to prevent future violations.
New York Attorney General Letitia James issued a consumer alert warning New Yorkers about gold bar scams targeting seniors, where scammers trick victims into converting money into gold bars. The alert provides tips to help consumers avoid falling victim to these scams.
$3.3M
New York Attorney General Letitia James announced a multistate settlement with Cal-Maine Foods, Versova/Centrum, and Hickman's Egg Ranch for illegally coordinating to manipulate the Urner Barry egg price index, artificially inflating egg prices. The companies will deliver 53 million eggs to food banks and pay $3.3 million, along with compliance measures.
$3.3M
New York Attorney General Letitia James and a bipartisan multistate coalition, alongside the U.S. Department of Justice, settled with three major egg producers for illegally coordinating to manipulate the Urner Barry daily price index, artificially inflating egg prices for retailers and consumers. The companies will deliver 53 million eggs to food banks nationwide, including 4,968,000 eggs to New York, and pay a combined $3.3 million, along with adopting compliance measures to prevent future violations.
Attorney General Jennifer Davenport joined a coalition of 23 states and DC in suing the Trump Administration over policy changes by the Administration for Children and Families (ACF) that would allow broad sharing of TANF recipients' sensitive personal data with other federal agencies, including ICE. The lawsuit argues the policy violates the Administrative Procedure Act and the Spending Clause, and seeks to block its implementation.