Rep. Ilhan Omar’s husband, Tim Mynett, launched a venture capital firm, Rose Lake Capital, in 2022, which rapidly grew in reported value. The company has quietly removed key officers’ details from its website amid scrutiny over the family’s skyrocketing wealth. The Minneapolis-based Congresswoman’s net worth jumped from near zero in 2019 to between $6 million and $30 million in 2024, reports Gabrielle Fahmy and Geoff Earle of the New York Post. The surge comes as a $9 billion pandemic-era welfare fraud in Minnesota—linked to programs Omar helped legislate and to individuals connected to her—has drawn federal investigations, though she has not been accused of wrongdoing. Mynett’s other ventures, including a California winery, also saw dramatic unexplained gains, raising questions about transparency and finances. Fahmy and Earle write:
Embattled Rep. Ilhan Omar’s husband’s venture capital firm quietly scrubbed key officer details — including former Obama officials — as scrutiny grows over the family’s skyrocketing wealth, The Post has learned.
Omar (D-Minn.) went from nearly broke to being worth up to $30 million in just a year — as a massive, up to $9 billion fraud scheme involving the Somali community in her district unfolded right under her nose in the North Star State.
Close to 90 people have been charged so far, including at least three with direct ties to the lefty “Squad” member, though she has not been accused of wrongdoing. […]
The Jimmy Choo-wearing socialist introduced the MEALS Act in Congress in 2020, relaxing oversight of government-sponsored children’s meal programs during the pandemic, which critics say allowed fraudsters to claim they served millions of meals without verification, while pocketing millions of dollars in government subsidies.
Shortly after the scheme played out, Omar’s husband, political consultant Tim Mynett, launched Rose Lake Capital, a venture capital management firm, in 2022. […]
“There’s a lot of strange things going on,” said Paul Kamenar, counsel to the National Legal and Policy Center. “She was basically broke when she came into office and now she’s worth perhaps up to $30 million … she needs to come clean on these assets.” […]
These names include lobbyist and former Obama Ambassador to Bahrain Adam Ereli; former Senator and Obama Ambassador to China Max Baucus; DNC Finance Chair associate Alex Hoffman; former DNC treasurer William Derrough; and former ex-CEO of Amalgamated Bank Keith Mestrich, who once described Amalgamated as “the institutional bank of the Democratic Party.” […]
Minnesota Gov. Tim Waltz — Kamala Harris’ former running mate — has also faced intense scrutiny for letting the scandal unfold on his watch. […]
When reached for comment, Omar’s communications director sent The Post a message saying the entire office was closed until Jan. 5 – without offering an alternative contact.
Mynett did not return The Post’s messages, and both his businesses’ numbers were not working.
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