Omar and Mynett have seen their fortune skyrocket in the last year. (Credit: Congressional Black Caucus Foundation/Getty Images)
“Strange things” are happening around embattled Rep. Ilhan Omar, D-Minn., and her family’s soaring wealth.
The New York Post reported new details on Saturday, including claims that the venture capital firm owned by Omar’s husband, Tim Mynett, “quietly scrubbed key officer details — including former Obama officials — as scrutiny grows over the family’s skyrocketing wealth.” Omar’s wealth has come under scrutiny recently amid reports of fraud within the Somali community that occurred under the noses of all elected officials, including Governor Tim Walz. Many find it hard to believe that such a massive scheme went unnoticed by the political class and are looking to see if any official may have benefited from the corruption.
In 2022, Mynett created Rose Lake Capital, a capital investment firm, which saw a shocking wave of success in a short time.
“The company saw its reported value go from nearly zero in 2023, to between $5 million and $25 million in just a year, and somehow claims to having already amassed $60 billion assets under management,” the NY Post reported, noting that such a high number was “an amount many money managers on Wall Street only dream of.”
Paul Kamenar, counsel to the National Legal and Policy Center, believes that something fishy is happening.
“There’s a lot of strange things going on,” he said. “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.”
Omar’s own financial disclosure indicated that the firm had less than $1,000 in assets in 2023, and such massive growth is mighty suspicious for a company whose business address “is a WeWork in DC, according to its LinkedIn page.”
In an instance of suspicious timing, the firm began removing “the names and bios of Rose Lake Capital’s nine officers and advisors” between the months of September and October. Coincidentally, this is around the time that prosecutors announced charges against eight people suspected of being involved in the fraud scheme, six of whom are of Somali descent.
In an instance of suspicious timing, the firm began removing “the names and bios of Rose Lake Capitals’s nine officers and advisors” between the months of September and October. Coincidentally, this is around the time that prosecutors announced charges against eight people suspected of being involved in the fraud scheme, six of whom are of Somali descent.
“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,’” the outlet reported. (Read more: Bizpac Review, 12/27/2025) (Archive)
Archived copy of Rose Lake Capital officers as of 12/28/2024 :
