Minnesota Democratic Congresswoman Ilhan Omar has disclosed a dramatic surge in the valuation of companies owned by her husband, a development that comes as the state grapples with fallout from a massive fraud scandal.
Financial disclosure reports submitted by Rep. Omar show that two companies tied to her husband, Tim Mynett, have multiplied in value by staggering amounts in recent years. The most notable is Rose Lake Capital LLC, a deal-making and advisory firm Mynett co-founded in 2022.
"Thousands of Times" Increase in Company Valuation
Congressional disclosures require reporting assets in broad ranges, not exact figures. Omar’s 2024 filing valued Rose Lake Capital at between $5 million and $25 million. In stark contrast, her 2023 report listed the same company’s worth at between just $1 and $1,000. Even using the most conservative possible calculations, this represents a valuation increase of thousands, if not tens of thousands, of times in a single year.
A second company, ESTCRU LLC, a California-registered winery first appearing on Omar's disclosures in 2020, also saw its reported value skyrocket. It was valued at between $1 million and $5 million in 2024, up from a range of $15,000 to $50,000 the year before.
A Sharp Contrast with a State in Crisis
The reported financial windfall for the congresswoman's family creates a stark juxtaposition with the ongoing crisis in her home state. Federal and state investigations have uncovered rampant fraud in Minnesota's COVID-19 relief programs, particularly those related to child nutrition. The total losses from the abuse of these federal funds are now estimated to exceed $9 billion. Some of the implicated fraud schemes are connected to a 2020 bill, the MEALS Act, which Omar co-sponsored.
Rep. Omar has defended her support for the MEALS Act, telling Fox News Digital she has "absolutely" no regrets and that the legislation "did help feed kids."
Heightened Scrutiny and Questions
The explosive growth of the Mynett-linked companies, combined with the scale of the state’s fraud scandal, has intensified scrutiny of the congresswoman. Rose Lake Capital's website, which previously listed an impressive roster of political and diplomatic insiders including a former ambassador and a former senator, has since removed all names and bios of its team members. It is unclear who currently works for the firm. The ESTCRU winery's website, despite its new multimillion-dollar valuation, appears inactive, with a non-functional store portal and a phone number that is not in operation.
Rep. Omar’s office did not respond to requests for comment on the specific valuations of the companies or the reasons for the changes to the Rose Lake Capital website. The disclosures have fueled questions about potential conflicts of interest and the sources of the companies' rapid, unprecedented growth as investigations into one of the largest fraud cases in U.S. history continue to unfold.
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