Minnesota Congresswoman Ilhan Omar is under intense scrutiny after her annual financial disclosure forms revealed an astonishing increase in her reported assets, from a modest $1,000 to almost $30 million within just one year.
From $1,000 to Multi-Million Dollar Holdings
The most recent disclosure, released in May 2024, shows a dramatic shift in the congresswoman's financial portfolio. The most eye-catching entry is for Rose Lake Capital LLC, a Washington DC-based venture capital management firm, which Omar lists as a source of 'partnership income'. Its value is now placed between $5 million and $25 million.
This represents a staggering rise from her 2023 disclosure, released in May 2024, where the same entity was valued at a mere $1 to $1,000. In that previous filing, Omar, a member of the Democratic Socialists of America, claimed an income of $15,001 to $50,000 from Rose Lake.
Husband's Business Links and Website Changes
Rose Lake Capital is owned by Omar's husband, Tim Mynett, who has served as its president and co-founder since 2022. The couple met during her congressional campaign and married in 2020. Omar states she receives no direct income from the firm.
Amid the growing scrutiny, Rose Lake's online presence has altered. Its LinkedIn page appears to have been removed, and its website has stripped away the names and biographies of team members. Previous versions listed high-profile figures including a former ambassador and a former senator.
Omar also lists ESTCRU LLC, a winery in Santa Rosa, California, as another partnership asset. Its value jumped from a maximum of $50,000 in 2023 to between $1 million and $5 million in the latest filing. The winery's digital footprint is limited, with an inactive Instagram account and a blocked purchase link.
Formal Ethics Investigation Launched
The extraordinary financial surge has prompted a formal investigation. The conservative watchdog group, the National Legal and Policy Center (NLPC), which monitors ethics among liberal officials, has confirmed it is examining the matter.
Peter Flaherty, chair of the NLPC, told the New York Post the centre is 'certainly looking' into Omar's assets. This is not the first time the NLPC has scrutinised Omar and Mynett; in 2022, it filed a complaint with the Federal Election Committee alleging campaign funds were used for personal benefit, which Omar denied.
The controversy emerges as Minnesota grapples with a separate $9 billion fraud scandal involving social service programmes. Federal prosecutors have described 'industrial-scale fraud', with 92 defendants, many of Somali descent, charged. Omar has attributed part of the problem to a lack of oversight during the pandemic.
The Daily Mail has contacted representatives for both Omar and Mynett for comment.
