Bannon and Epshteyn Face Fraud Allegations Over Defunct Crypto Token
A proposed class action lawsuit has been filed against Steve Bannon and Boris Epshteyn, accusing them of defrauding investors through their 'Patriot Pay' cryptocurrency token. The token was originally called Let's Go Brandon Coin before being rebranded.
The complaint alleges that in 2021, Bannon and Epshteyn secretly acquired control of the project from its original creator. They allegedly structured the deal so that retail investors' transaction fees financed the takeover, while publicly presenting themselves as mere 'supporters' and 'advocates' of the project.
The token's value steadily declined due to lack of meaningful promotion and alleged mismanagement of investor funds, according to the filing. In February 2025, the defendants disabled trading, announced the project's closure, and promised liquidity distributions that never materialized.