Lawsuit filed against seller targeting Muslim community in real estate scam
The Minnesota attorney general’s office has initiated legal action against Chadwick Banken and his limited liability corporations.
This is for allegedly exploiting the East African Muslim community through deceptive real estate practices.
Banken is accused of violating state and federal laws, including discrimination based on religious grounds.
He is accused of employing contracts-for-deed to sell homes at inflated prices and unfavorable terms to Muslim buyers.
Attorney General Keith Ellison emphasized the significance of the case in deterring similar predatory schemes.
Banken faces allegations of manipulating buyers into default through exorbitant down payments and balloon payments, leading to loss of property ownership.
The lawsuit follows a 2022 investigation revealing exploitation within the Somali community.
Abdinoor Igal, a victim of Banken’s alleged scheme, expressed relief upon hearing the news, having endured financial devastation due to the fraudulent transactions.
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