Embattled Rep. Ilhan Omar’s husband’s venture capital firm quietly scrubbed key officer details — including former Obama officials — as scrutiny grows over the family’s skyrocketing wealth, The Post has learned.
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.
Close to 90 people have been charged so far, including at least three with direct ties to the lefty “Squad†member, though she has not been accused of wrongdoing.
It was Somalia-born Omar — who was seen in a resurfaced video last month dishing out food in a restaurant now at the heart of the scandal — who introduced the legislation that critics say paved the way for what the feds have called the largest fraud of the pandemic.
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.
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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.
Yet despite the reported windfall, the business’s only address is a WeWork in DC, according to its LinkedIn page.
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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.â€
Meanwhile, Mynett’s other business, a California winery that previously faced fraud allegations and was declared a failed venture in 2023, was suddenly worth between $1 million and $5 million in 2024 — a windfall of 9,900%.
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It too is listed as operating out of a WeWork, and doesn’t appear to actually sell any wines anymore, according to extensive internet searches.
Despite the high worth placed on the business, its website is a broken link, the phone number is disconnected and the last social media post for the winery dates back to 2023.
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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 — just months after the congresswoman dismissed claims that she was a millionaire as “ridiculous†and “categorically false.â€
Her links to the Minnesota welfare scheme have started to come to light in recent weeks.
Her campaign received $7,400 in direct donations from at least three now-convicted fraudsters, though the “Squad†member insisted she returned the donations after the scandal broke.
She’s been closely linked to at least two individuals from Minnesota’s Somalian community who’ve been charged in the fraud.
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