Bannon and Epshteyn Accused of Patriot Pay Token Scam
A proposed class action lawsuit in Washington, D.C. accuses Steve Bannon and Boris Epshteyn of defrauding retail investors through a cryptocurrency token called Patriot Pay.
The token was originally called Let's Go Brandon Coin before being rebranded to Patriot Pay. It was marketed as a decentralized alternative to traditional banking, but the lawsuit alleges that Bannon and Epshteyn secretly took control of the project in 2021 and shut it down in 2025 without returning investor funds.
The complaint claims that retail investors' transaction fees were used to finance the takeover, with Bannon and Epshteyn publicly presenting themselves as mere supporters and advocates of the project. The lawsuit also alleges violations of federal and D.C. securities laws, including the sale of unregistered securities, fraud, and misrepresentation.