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
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.
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.
The company saw its reported value go from nearly zero in 2023 to between $5 million and $25 million in just a year, and touted its officers’ $60 billion in “previous” assets under management — an amount many Wall Street money managers only dream of.
“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.”
Rose Lake Capital, which touts its “deep global networks built from on-the-ground work in more than 80 countries,” had less than $1,000 in assets in 2023, according to Omar’s financial disclosure.
“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, and [Minnesota Gov.] Tim Walz looked the other way,” according to Kiersten Pels, spokesperson for the Republican National Committee.
When she first took office in 2019, the left-wing “Squad” member declared a net worth between negative $25,000 and negative $65,000, claimed to own no assets and be only carrying student and car debt.
Now Omar’s assets have suddenly skyrocketed to anywhere between $6 million and $30 million, according to her latest financial disclosure
