Rep Ilhan Omar's husband has quietly scrubbed the names of high-profile former Obama administration officials from his venture capital firm's website, as mounting questions swirl around the couple's explosive wealth surge amid a massive welfare fraud scandal in Minnesota.
Tim Mynett's Rose Lake Capital removed details of nine officers and advisers—including former Obama ambassadors and Democratic Party finance chiefs—between September and October, per The New York Post. The timing coincided with federal prosecutors announcing charges against eight more individuals, including six of Somali descent, in connection with what authorities describe as the largest pandemic fraud scheme in US history, potentially reaching $9 billion.
From Broke to a Staggering $30 Million Net Worth
The Minnesota representative's financial trajectory has raised eyebrows across Washington. When Omar first took office in 2019, the Squad member declared a net worth between negative $25,000 and negative $65,000, owning no assets and carrying only student and car debt. By 2024, her latest financial disclosure showed assets between $6 million and $30 million—a staggering increase that came just months after she dismissed claims of being a millionaire as 'ridiculous' and 'categorically false'.
At the centre of the wealth explosion sits Mynett's Rose Lake Capital, launched in 2022. The venture capital management firm went from holding less than $1,000 in assets in 2023 to between $5 million and $25 million in just one year, according to Omar's financial disclosures. The company claims to have already amassed $60 billion in assets under management—a figure that would rival established Wall Street firms. Yet its only listed address is a WeWork office in Washington DC.
'There's a lot of strange things going on,' Paul Kamenar, counsel to the National Legal and Policy Center, told 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.'
High-Profile Names Vanish
The scrubbed names from Rose Lake Capital's website 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 CEO of Amalgamated Bank Keith Mestrich, who once described his institution as 'the institutional bank of the Democratic Party'. None of these individuals has been charged with any wrongdoing in the fraud case.
Meanwhile, Mynett's other business venture has also seen a mysterious windfall. His California winery, eStCru, was declared a failed venture in 2023 and valued at between $15,000 and $50,000 in Omar's financial disclosure that year. By 2024, it was suddenly worth between $1 million and $5 million—a 9,900% increase. The business now appears defunct, with a broken website, disconnected phone number, and no social media activity since 2023.
Omar's Links to Minnesota Fraud Scandal
The wealth questions emerge as Omar faces mounting scrutiny over her connections to the Minnesota welfare fraud scheme. Close to 90 people have been charged so far, including at least three with direct ties to the congresswoman, though she has not been charged with any crime. Her campaign received donations from at least three now-convicted fraudsters, which she has stated were returned.
The Somalia-born representative introduced the MEALS Act in Congress in 2020, which relaxed oversight of government-sponsored children's meals programmes during the pandemic. Critics argue the legislation paved the way for fraudsters to claim they served millions of meals without verification, whilst pocketing millions in government subsidies. Omar defended the legislation last week on Capitol Hill, telling reporters: 'Absolutely not, it did help feed kids.'
One of the convicted individuals, Salim Ahmed Said, co-owned Safari Restaurant where Omar held her 2018 congressional victory party. Said was found guilty in August of stealing more than $12 million for serving 3.9 million 'phantom' meals during the COVID-19 pandemic, prosecutors said. A resurfaced 2020 video shows Omar at the same restaurant promoting the meals programme, saying in Somali: 'Every day Safari provides 2,300 meals to children and their families.'
Another individual, Guhaad Hashi Said, worked on Omar's 2018 and 2020 campaigns and pleaded guilty in August to running a fake food site where he falsely claimed to serve 5,000 meals a day, pocketing $3.2 million from the programme.
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 https://t.co/0FTJ1733Lw pic.twitter.com/DhkfeaSev5
— New York Post (@nypost) December 27, 2025
Calls for Accountability
The Treasury Department launched an investigation in early December into allegations that tax dollars may have been diverted to the al-Shabaab militant group in Somalia, according to Treasury Secretary Scott Bessent, whilst House Republicans opened their own investigation into the fraud schemes. However, no charges have been filed against Omar or her husband in connection with the fraud case.
The case highlights broader concerns about congressional oversight and financial transparency requirements for elected officials. Federal lawmakers are required to file annual financial disclosures, but the forms allow for broad ranges rather than specific amounts, making it difficult for the public to assess exact wealth levels. Ultimately, the controversy underscores the urgent need for stronger disclosure standards and enforcement mechanisms to ensure that public officials remain accountable.
