Ilhan Omar disclosures show husband’s companies surged in value as Minnesota reels from $9B fraud
Disclosures show that companies owned by the husband of Rep. Ilhan Omar surged in value, from under $1,000 to up to $25 million, as investigations into Minnesota fraud continue.
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A pair of companies owned by Tim Mynett, the husband of Rep. Ilhan Omar, D-Minn., have exploded in value in recent years, growing more than 20 times in under a year, according to congressional disclosures, prompting questions about how the companies achieved their apparent rapid success.
It’s a picture that contrasts bleakly with mounting revelations of fraud in Minnesota as investigations indicate the losses through abuse of government programs could top $9 billion.
Ballpark revelations about Omar’s assets show a steep increase in the value of her husband’s company holdings since 2020.
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Rep. Ilhan Omar, D-Minn., said she has "absolutely" no regrets about the 2020 MEALS Act because "it did help feed kids." (Tom Williams/CQ-Roll Call, Inc via Getty Images)
Omar disclosed 2024 evaluations of Rose Lake Capital LLC, a business firm co-founded by her husband, at somewhere between $5 million and $25 million in 2024. Just one year before, in 2023, she reported that the same company’s value was between $1 and $1,000.
Congressional disclosures, categorized in ranges of value, don’t provide the precise details of how much a member’s holdings are worth. Even so, assuming the smallest possible change year over year, Rose Lake Capital's evaluation has climbed thousands of times in just one year.
According to Rose Lake Capital’s website, the company facilitates deal-making, mergers and acquisitions, banking, politics and diplomacy.
The company roster of employees included an impressive cast of figures like Adam Ereli — a lobbyist and former ambassador to Bahrain under the Obama administration. According to previous versions of the website accessible on an internet archive, the company also brought in former Sen. Max Baucus, D-Mont., and a pair of former associates from the Democratic National Committee (DNC): William Derrough, the former treasurer for the DNC, and Alex Hoffman, a previous chief of staff to the national finance chair.
Mynett, Omar’s third husband, co-founded the company in 2022.
