Bannon, Epshteyn Sued Over Defunct 'Patriot Pay' Crypto Scheme

A class action lawsuit has been filed against former White House strategist Steve Bannon and Trump adviser Boris Epshteyn, alleging they defrauded investors through a cryptocurrency token called Patriot Pay.

The token was originally launched as Let's Go Brandon Coin in 2021 and later rebranded to Patriot Pay. According to the lawsuit, Bannon and Epshteyn secretly acquired control of the project from its original creator and publicly presented themselves as mere supporters and advocates.

The complaint alleges that the defendants took centralized control of a token marketed as decentralized and shut it down in 2025 without returning investor funds. The value of the token steadily declined due to lack of meaningful promotion and alleged mismanagement of investor funds, according to the filing.