Omar's Husband Scrubs VC Site Amid Fraud Probe
Rep. Ilhan Omar (D-MN05), 2018. Photo courtesy of Kristie Boyd; U.S. House Office of Photography. Public domain.
Representative Ilhan Omar's husband, Tim Mynett, has seen his venture capital firm, Rose Lake Capital, quietly remove the names and bios of key officers and advisors from its website amid growing scrutiny over the couple's sudden rise in wealth and a sprawling federal welfare fraud investigation in Minnesota. The firm's website purge happened as questions mount about the family's reported net worth, which has surged to as much as $30 million, and as hundreds of individuals face charges tied to pandemic-era food and social service programs in Omar's district.
A Sudden Surge in Wealth
The financial leap for Omar and Mynett is striking. According to their latest financial disclosure, their household net worth jumped from near zero to between $6 million and $30 million within a year. Rose Lake Capital itself is valued between $5 million and $25 million, a massive increase from less than $1,000 in assets reported in 2023. This rapid growth has raised eyebrows across the political spectrum and among watchdog groups.
Paul Kamenar, counsel to the National Legal and Policy Center, told the New York Post that the situation looks unusual, noting that Omar was "basically broke when she came into office" and now appears to be worth up to $30 million. He said the couple "needs to come clean on these assets."
Website Changes Raise Questions
Between September and October, Rose Lake Capital removed the names and biographies of nine officers and advisors from its website. These individuals include several former Obama administration officials and Democratic Party insiders, such as Adam Ereli, former Ambassador to Bahrain; Max Baucus, former Ambassador to China; Alex Hoffman, an associate of the DNC Finance Chair; William Derrough, former DNC treasurer; and Keith Mestrich, ex-CEO of Amalgamated Bank. None of these individuals have been charged in the ongoing welfare fraud investigation.
The timing of the website changes coincides with federal prosecutors announcing charges against eight more individuals, including six of Somali descent, for their roles in the welfare fraud scheme. The removal of these names has fueled speculation about the firm's internal operations and transparency.
Minnesota Welfare Fraud Investigation
The welfare fraud case at the center of this controversy involves a massive scheme exploiting pandemic-era children's meal and social service programs. Federal authorities have charged nearly 90 people so far, with allegations that some claimed millions of meals were served without verification while pocketing millions in government subsidies. The fraud is considered one of the largest of the pandemic period.
Omar's district, which includes a significant Somali-American community, has been a focal point of the investigation. At least three individuals charged in the scheme have alleged ties to Omar, though she has not been charged herself. Her campaign reportedly received $7,400 in donations from at least three convicted fraudsters, which Omar's office says were returned after the scandal broke.
Legislative Links and Public Statements
The controversy also touches on Omar's legislative record. She introduced the MEALS Act in 2020, which relaxed oversight of government-sponsored children's meal programs during the pandemic. Critics argue this legislation created loopholes that allowed fraudsters to exploit the system. Omar has defended the bill, stating it "did help feed kids," as reported by the New York Post, and has expressed no regrets about pushing for it despite the fraud allegations linked to the program.
Mynett's Other Business Ventures
Tim Mynett's business dealings extend beyond Rose Lake Capital. He also owns a California winery, eStCru, which allegedly faced fraud allegations in 2023. The winery's reported value skyrocketed from between $15,000 and $50,000 in 2023 to between $1 million and $5 million in 2024, a 9,900% increase. The winery was sued by an investor who accused Mynett of fraudulently misrepresenting the company's legitimacy. Mynett claimed the business struggled during the pandemic, and the case was settled out of court.
Despite the high valuation, the winery's website is inactive, its phone number disconnected, and it appears to have ceased selling wines. The business operates out of a WeWork office, similar to Rose Lake Capital.
Political and Public Reactions
The developments have sparked bipartisan concern and calls for transparency. The Republican National Committee spokesperson Kiersten Pels criticized the couple, saying, "While working families were being ripped off by a massive welfare scam, Omar's campaign took money from convicted fraudsters, her husband launched a firm that suddenly ballooned in value," as reported by the New York Post. She also accused Minnesota Governor Tim Walz of ignoring the scandal.
Representative Tom Emmer (R-MN) called Omar "disingenuous" and suggested her newfound wealth explains why she is out of touch with the priorities of everyday Minnesotans, as reported by the New York Post.
Investigation Status and Responses
The Treasury and Justice Departments have launched investigations into alleged money laundering connected to the welfare fraud. Omar has not been charged, and her communications director declined to comment, stating the office was closed until early January. Mynett did not respond to requests for comment, and phone numbers for both of his businesses were not working.
The removal of officer names from Rose Lake Capital's website, combined with the couple's rapid financial ascent and the ongoing welfare fraud investigation, has intensified scrutiny on Omar and Mynett. The situation remains fluid as federal authorities continue their probe, and calls for transparency and accountability grow louder.
This case highlights the complex intersection of political power, financial disclosure, and public trust amid one of the largest welfare fraud schemes in recent U.S. history.
References: Exclusive | Ilhan Omar's hubby's $30M firm quietly scrubs names from website - as 'Squad' member faces mounting questions on sudden wealth amid Minnesota welfare fraud | Ilhan Omar's Husband Purges Names from VC Firm's Website | Ilhan Omar's dramatic financial surge under probe as hubby's firm 'quietly scrubs' key officer info, reveals new report
