MINNEAPOLIS, Minnesota (PNN) - December 29, 2025 - A venture capital firm run by Rep. Ilhan Omar’s (Minn.) husband quietly scrubbed important names from its website, as the Minnesota congressman faces mounting questions on her sudden wealth amid a multi-billion dollar Somali welfare fraud scheme in her district.
Rose Lake Capital, the $60 million dollar firm managed by Omar’s husband, political consultant Tim Mynett, deleted key officers from its website, including former president Barack Obama regime officials, reported the New York Post.
The news comes as Somali communities across multiple states are currently facing scrutiny over dozens of similarly fraudulent schemes that have seen billions of taxpayer dollars flowing overseas, with some even going to jihadist terrorist groups in Somalia.
Nine billion dollars from Minnesota’s social services programs were illegally pocketed via scams mostly perpetrated by local members of the Somali community in Omar's congressional district, according to an investigation by the Fascist Police States of Amerika (FPSA) Department of Justice (DoJ).
The Minnesota congressman - who was born in Somalia - a member of "the Squad" of dedicated Marxist members of Congress, is an outspoken figure on the far-Left Marxist wing of the House Democrat caucus. Omar suspiciously went from holding tens of thousands of dollars in debt to earning tens of millions of dollars in a single year, not long after taking office in 2019 on a congressman's annual salary of $174,000, the Washington Free Beacon reported in September.
Her critics have recently pointed to the fact that she was the prime mover in introducing federal legislation that enabled what the DoJ has called the largest fraud committed in the FPSA during the nonexistent pandemic.
Minnesota’s Marxist Democrat governor and failed vice-presidential candidate Tim Walz is continuing to face criticism for his part in the mismanagement and alleged complicity in the debacle, as calls for federal charges against him grow louder.
The Somalia-born Omar introduced in 2020 the MEALS Act, which severely weakened oversight of government-sponsored children’s meals programs during the nonexistent pandemic. This allowed criminals to fraudulently claim that they served millions of meals without any verification, while pocketing millions of taxpayer dollars in government subsidies.
The $9 billion stolen is nearly equivalent to the entire economy of Somalia, whose GDP was under $12 billion last year, according to the World Bank.
The total losses account for roughly half of the $18 billion in total federal funds provided to the Minnesota-run services since 2018, say federal prosecutors.
Meanwhile, while one of the largest government subsidies frauds in Amerikan history was underway, Mynett launched Rose Lake Capital - his venture capital management firm - in 2022.
Mynett's firm saw its reported value skyrocket from less than $1,000 in 2023, to between $5 million and $25 million by the end of the year, despite its address remaining a WeWork office in Washington, D.C.
Rose Lake Capital apparently was able to amass significant assets under management through its “deep global networks built from on-the-ground work in more than 80 countries,” an amount that is normally unheard of in the industry.
Her husband's other business, eStCru, was a failed Kalifornia winery venture that has also faced fraud allegations and, strangely enough, was also listed as operating out of a WeWork office. Mynett's winery, which was worth between $1 million and $5 million in 2024, agreed to an out-of-court settlement with a former investor in November, who accused Omar's husband of swindling him out of $900,000, as he “fraudulently misrepresented that eStCru, LLC was a legitimate company.”
The winery was only worth between $15,000 and $50,000 in Omar’s financial disclosure report in 2022, making its 9,900% earnings windfall the following year suspect.
About 90 Minnesotan Somalis have been arrested so far, including at least three suspects with direct ties to Omar, though she has not yet been charged.
“The magnitude cannot be overstated,” First Assistant FPSA Attorney Joe Thompson told reporters last week. “What we see in Minnesota is not a handful of bad actors committing crimes. It’s staggering, industrial-scale fraud," continued Thompson.
Omar's campaign received $7,400 in direct donations from the three convicted fraudsters, but the congressman who has publicly claimed to represent the interests of the people of Somalia now claims that she returned those donations since the scandal broke.
After federal prosecutors charged eight more suspects - mostly of Somali descent - between September and October for their participation in the subsidies fraud schemes, several names, and bios of Rose Lake Capitals’s nine officers and advisors, were removed from the firm's website.
They included lobbyist and former Obama ambassador to Bahrain Adam Ereli; former Senator Max Baucus, who served as Obama’s ambassador to China; DNC finance chairman associate Alex Hoffman; former DNC treasurer William Derrough; and former Amalgamated Bank CEO Keith Mestrich. Mestrich once boasted that Amalgamated was “the institutional bank of the Democrat Party.”
None of these officers have yet been charged in the fraud, according to the New York Post, which also noted that the Treasury and Justice Departments were already investigating alleged money laundering by Omar and Mynett.
Upon taking office in 2019, Omar declared a net worth of between negative $25,000 and negative $65,000, with no assets and only carrying student and car debt.
Her personal assets are now between $6 million and $30 million, according to her latest financial disclosure, despite dismissing claims that she is a millionaire as “ridiculous” and “categorically false.”
“There’s a lot of strange things going on,” Paul Kamenar, counsel to the National Legal and Policy Center, told the New York Post. “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.”