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.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
LayerZero responds to Kelp DAO’s 292 million incident: it indicates that Kelp set up a custom 1-of-1 DVN configuration, and the attacker was North Korea’s Lazarus.
LayerZero issued a statement regarding the $292 million hack suffered by Kelp DAO, accusing Kelp’s self-selected 1-of-1 DVN configuration of making the incident possible. The attacker was the North Korean Lazarus Group. LayerZero emphasized that this incident stems from configuration choices and that it will no longer support this kind of vulnerable setup. In addition, responsibility is still disputed, and no compensation plan has been provided.
ChainNewsAbmedia50m ago
Charles Schwab Explores Prediction Markets Tied to Financial Events Amid Regulatory Scrutiny
Charles Schwab is considering introducing prediction markets for financial events amid growing Wall Street interest, while maintaining a focus on wealth management. Regulatory scrutiny is increasing, especially regarding sports and entertainment wagers, highlighted by recent legislation and concerns over insider trading and market manipulation.
GateNews1h ago
Warren Questions SEC Chair as 2025 Enforcement Actions Fall to Decade Low
Senator Elizabeth Warren accused SEC Chair Paul Atkins of misleading Congress over a decline in enforcement actions, which hit a decade low in fiscal 2025. Warren sought clarification on the regulatory shift, while Atkins defended the changes as a strategic realignment of priorities.
GateNews1h ago
Latam Insights: Brazil Seeks Online Gambling Ban, Venezuela's National Stablecoin Proposal
Welcome to Latam Insights, a compilation of the most relevant crypto news from Latin America over the past week. In this edition, a draft to repeal all online gambling has been introduced in Brazil, a proposal to include stablecoins to help curb currency restrictions rises in Venezuela, and Latam
Coinpedia7h ago
A judge ruled that the JENNER meme coin issued by socialite Jenners from the Kardashian family is not a security, dismissing the lawsuit.
The U.S. District Court for the Central District of California ruled that the $JENNER meme coin issued by socialite Jenna, of the Kardashian family, does not meet the definition of a security, dismissing investors’ lawsuit. The judge said the plaintiffs failed to prove the features of a common enterprise and can bring other claims in state court.
ChainNewsAbmedia15h ago
Korean Counterfeit Gang Sells Fake Diplomas for Cryptocurrency, Starting at $200
A Korean counterfeit gang is selling forged documents via Telegram, accepting cryptocurrency and digital gift cards. They offer fake diplomas, licenses, and other legal documents, highlighting the role of cryptocurrency in facilitating anonymous transactions for illicit services. Arrests for forgery have nearly doubled in South Korea from 2021 to 2023.
GateNews19h ago
