Minnesota Congresswoman Ilhan Omar is facing scrutiny after her assets appeared to skyrocket from only $1,000 to almost $30 million in just one year.
Two companies, both owned by her husband and listed on Omar’s most recent financial disclosure form, seemed to explode in value between 2023 and last year.
Rose Lake Capital LLC was valued between $5 million and $25 million in 2024, according to the document, filed in May.
The venture capital management firm is headquartered in Washington, DC. Omar lists the asset as ‘partnership income’ on her form and claimed she doesn’t receive any income from Rose Lake.
However, in her 2023 report, released in May 2024, Rose Lake Capital is valued at between $1 and $1,000.
In the same report, the Somali-born socialist stated that another company, ESTCRU LLC, was worth between $15,001 and $50,000.
The firm is a winery in Santa Rosa, California. Its value is now listed between $1 million and $5 million, according to Omar’s recent disclosure.
In response to the significant increase, the National Legal and Policy Center, a conservative nonprofit that monitors the ethics of liberal public officials, has confirmed it is ‘certainly looking’ at the progressive Congresswoman.
Peter Flaherty, chairman of the organization, confirmed to the New York Post that the center is investigating Omar’s assets.
Omar, whose previous marriage to her own brother was exclusively revealed by the Daily Mail, also lists ESTCRU as another form of partnership income.
Her husband, Tim Mynett, has served as the president and co-founder of Rose Lake since 2022, according to his LinkedIn profile.
The Daily Mail has reached out to Mynett and Omar’s offices for comment.
Rose Lake’s website says it has worked with five diplomats in more than 80 countries to structure deals, mergers, and acquisitions.
‘From distressed assets to buying publicly traded companies – our team has the prowess to execute the right opportunities,’ the company’s description reads.
‘At Rose Lake we tap into our extensive global network to create strategic partnerships to maximize the strength of the businesses we partner with.’
Rose Lake’s LinkedIn page also appears to have been removed amid reports of Omar’s wealth gains.
The company’s website stripped team members’ names and bios. The webpage now only displays a brief summary of Rose Lake’s work.
Previous versions of the website listed several high-profile employees, including Adam Ereli, a former ambassador to Bahrain, former Senator Max Baucus, and former officials with the Democratic National Committee, as first reported by Fox News.
Estcru wines also has an eye-catching digital footprint. A link to purchase the wines appears to have been blocked and the company’s Instagram page only has 2,000 followers. Their last post was in January 2023.
Despite the company’s lack of following, its asset value jumped from a maximum worth of $50,000 to $5 million in one year, according to Omar’s financial disclosure forms.
Omar’s finances are drastically different from what she reported in 2018, 2019, and 2020.
In 2018, Omar didn’t disclose any assets or unearned income. The following year, she listed a tax-deferred target retirement fund.
ESTCRU LLC first appeared on her financial disclosure forms in 2021, while Rose Lake Capital was first disclosed the following year.
Omar married Mynett in 2020. He was working as a political consultant at the time and his firm advised her congressional campaign.
Mynett left the consultant firm in 2022. The NLPC filed a complaint with the Federal Election Committee at the time, alleging that campaign funds had been used for personal benefit due to their relationship.
Omar dismissed the allegations and said her romantic relationship with Mynett began after they concluded their work together.
The new backlash over Omar’s disclosure forms comes as the state she represents is engulfed in a $9 billion fraud scandal.
Minnesota’s Republican led House Oversight Committee has launched a corruption investigation into social service programs.
Assistant US Attorney Joseph Thompson alleged that 14 Medicaid programs spent $18 billion in seven years.
The state’s attorney’s office charged 92 defendants, many of whom are of Somali descent, with fraud-related crimes.
‘What we see in Minnesota is not a handful of bad actors committing crimes. It’s a staggering industrial-scale fraud,’ Thompson said at a news conference in mid-December.
Omar previously addressed the scandal in an interview on CNN. She said the rush to push out benefits during the pandemic resulted in a lack of guardrails for the programs.
