Bannon and Epshteyn Accused of Patriot Pay Token Scam
Steve Bannon and Boris Epshteyn are facing fraud allegations over their involvement in the defunct 'Patriot Pay' cryptocurrency token. The token, originally called 'Let's Go Brandon Coin', was rebranded to Patriot Pay.
The lawsuit, filed by purchaser Andrew Barr, claims that Bannon and Epshteyn secretly acquired control of the project in 2021 from its original creator. The deal was structured so that retail investors' transaction fees financed the takeover.
Barr's complaint alleges that despite holding insider authority over the token's smart contract, fee routing, and key wallets, Bannon and Epshteyn publicly presented themselves as mere 'supporters' and 'advocates' of the project. They told buyers that the token offered a censorship-resistant alternative to traditional banking.