A jury has found real estate broker Chad Banken guilty of consumer fraud and discrimination for selling homes at inflated prices to Muslim buyers. The verdict comes after two weeks of testimony and more than seven hours of deliberation.

Banken’s Business Practices

Banken was being tried in civil court for allegedly breaking the state’s consumer fraud and deceptive trade practices laws. He sold 160 homes using contracts for deed, which offer fewer protections for consumers compared to conventional mortgages.

Attorney General Keith Ellison brought the charges against Banken in a 2024 lawsuit in Hennepin County civil court. The lawsuit alleges that Banken inflated home prices and pressured homebuyers to pay large down payments, essentially setting them up to fail.

Discrimination Against Muslims

Banken is also accused of discriminating against Muslims in violation of the Minnesota Human Rights Act, and of falsely telling clients that his contracts did not include interest, which is generally forbidden under sharia law in Islam.

Assistant Attorney General Mark Iris said during the state’s closing argument that the theme of Banken’s business dealings was deliberate confusion, citing discrepancies between what Banken told customers about their contracts and what was actually written in them.

Multiple people who bought homes from Banken testified throughout the trial that he misled them about the prices, and manipulated them.

Original reporting: Sahan Journal — read the source article.