Rep. Ilhan Omar is once again facing criticism as her husband Tim Mynett’s venture capital firm, Rose Lake Capital, removed key officer and advisor details from its website. This change comes amid Minnesota’s growing welfare fraud investigation and as concerns arise about how quickly the couple’s reported wealth has increased.
According to Omar’s latest financial disclosure filed in May, the couple’s net worth skyrocketed by about 3,500% in just one year. The filing shows a range between $6 million and $30 million. The venture capital firm alone is valued between $5 million and $25 million, according to the disclosure.
The New York Post first reported that Rose Lake Capital had scrubbed names and titles related to its leadership, taking down officer and advisor details that were previously visible.
“There are a lot of strange things going on,” said Paul Kamenar, counsel to the National Legal and Policy Center. He commented to the Post, “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.”
The sudden increase in wealth is concerning because Rose Lake Capital was listed as having less than $1,000 in assets in Omar’s prior-year disclosure. This fact has led to speculation about how the firm’s valuation could have risen so quickly in such a short period.
The Post noted that between September and October, nine officer and advisor details were removed from the firm’s website. This list included names connected to Democratic political and financial circles and former officials from the Obama administration. Some of the identified names were former Obama Ambassador to Bahrain Adam Ereli, former Obama Ambassador to China Max Baucus, DNC finance chair associate Alex Hoffman, former DNC treasurer William Derrough, and former Amalgamated Bank CEO Keith Mestrich.
The timing of these changes is significant because Omar is under increased scrutiny in Minnesota. Investigators continue to explore one of the largest alleged welfare fraud scandals in the state’s history, which involves numerous cases linked to pandemic-era assistance and other public programs.
The Post has outlined the situation, noting dozens of defendants and a long-running investigation that has already led to many charges and convictions. The report emphasizes that the controversy remains highly charged, even though Omar herself has not faced any charges.
According to the Post, ninety people have been accused, and many have been convicted of defrauding the state of hundreds of millions of dollars. Three individuals are alleged to have connections to Omar, but she has not been charged.
Criticism of Omar also arises from her support for reforms that opponents argue were exploited, such as the MEALS Act. This law changed reimbursement rules during the COVID-19 pandemic and relaxed oversight requirements to improve access to meals for children.
Omar has long been a target of insults by the president. Earlier this month, the president said she should be thrown out of the country and alleged that she married her brother. Trump also said she should go back to Somalia, a country he called “garbage.”
Omar and Mynett have not been charged in the Minnesota cases, despite ongoing investigations and increasing questions.
