Two of Trump's "long-term allies" sued collectively by investors over "Patriot Pay" tokens

PANews, February 14 – According to Reuters, investor Andrew Barr from Missouri has filed a class-action lawsuit in the Federal Court in Washington, accusing former President Trump's long-time allies Steve Bannon, Boris Epshteyn, and Bannon's media companies "War Room," Let's Go Brandon Coin LLC, and Patriot Pay LLC of fraudulently selling unregistered cryptocurrencies to thousands of investors.

The complaint states that Bannon and Epshteyn used their public platforms and political influence to promote a token initially called "Let's Go Brandon Coin" ($FJB), later renamed "Patriot Pay" ($PPY), enticing investors to purchase "unregistered and highly speculative assets." The plaintiff claims personal losses exceeding $58,000 and alleges that the defendants concealed the risks and governance details of the tokens, violating securities laws and consumer protection laws.

The lawsuit notes that the defendants fully suspended trading in early 2025, announced the project's closure, and promised to distribute remaining liquidity funds, but such distribution has not yet occurred. The plaintiff seeks to recover damages on behalf of thousands of retail investors nationwide.