A venture capital firm led by the husband of Representative Ilhan Omar has undergone a significant and secretive transformation. Rose Lake Capital, founded in 2022, quietly removed the names and biographies of its key officers and advisors from its website between September and October of last year – a move raising serious questions about transparency.
This change in presentation coincides with mounting scrutiny over Omar’s dramatic financial ascent. Entering Congress in 2019, she reported a net worth ranging from negative $25,000 to negative $65,000, burdened by debt. Now, just five years later, her assets are estimated to be between $6 million and $30 million – a breathtaking increase that demands explanation.
The timing is particularly sensitive given the unfolding of one of the largest welfare fraud scandals in U.S. history, centered in Omar’s own district. Federal prosecutors have charged nearly 90 individuals so far, many of Somali descent, with stealing billions from government-funded children’s meal programs during the pandemic.
Among those removed from Rose Lake Capital’s website were prominent Democratic figures: a former Obama ambassador, an ex-Senator, a DNC finance chair associate, and the former treasurer of the Democratic National Committee. Also absent is the ex-CEO of a bank once described as “the institutional bank of the Democratic Party.” None have been charged with fraud, but their removal feels deliberate.
The scandal revolves around claims for “phantom” meals – millions of dollars in subsidies claimed for food that was never served to hungry children. Salim Ahmed Said, co-owner of a Minneapolis restaurant, was recently convicted of stealing over $12 million through this scheme, fabricating claims for 3.9 million meals.
Remarkably, Said’s restaurant hosted Omar’s 2018 victory party. A resurfaced video shows her praising the program at the restaurant, speaking in Somali about the thousands of meals provided daily. This connection, coupled with the scale of the fraud, fuels the growing questions surrounding her financial gains.
Adding another layer of complexity, Guhaad Hashi Said, another convicted fraudster, worked on Omar’s 2018 and 2020 campaigns. He pleaded guilty to running a fraudulent food site that netted him $3.2 million. Omar’s campaign received donations from at least three individuals now convicted in the scandal, funds she claims to have returned.
Critics point to Omar’s 2020 push for the MEALS Act, arguing it loosened oversight on these programs, inadvertently creating opportunities for widespread fraud. Despite the controversy, Omar maintains she has no regrets, stating the legislation “did help feed kids.”
The rapid growth of Rose Lake Capital itself is raising eyebrows. The firm reported assets under management of $60 billion, despite operating from a WeWork office. Just a year earlier, it was valued at less than $1,000 in Omar’s financial disclosures, then jumped to between $5 million and $25 million.
Further complicating the picture is Tim Mynett’s other venture, a California winery called eStCru. The winery faced its own fraud allegations, with an investor suing Mynett for allegedly swindling $900,000 through misrepresentation. The case settled out of court, but the details are unsettling.
eStCru, once selling wines with provocative names like “Blockchain” and “The Devil’s Lie,” experienced a staggering 9,900% increase in value between 2022 and 2024. Today, the winery appears defunct, with a broken website and no recent activity.
Omar has previously faced scrutiny for directing hundreds of thousands of dollars to her husband’s consulting firm, raising concerns about potential conflicts of interest. Since 2018, Mynett has received over $878,000 from Omar’s campaign.
Observers are demanding answers. One legal expert stated bluntly, “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.” The questions surrounding Omar’s wealth and its potential connection to the massive fraud scandal continue to mount.
Despite the growing concerns, Omar has dismissed reports of her wealth as “ridiculous” and “categorically false.” Her office declined further comment, and inquiries to Mynett and his businesses have gone unanswered, leaving a trail of unanswered questions and deepening the mystery.
