Ilhan Omar disclosures show husband’s companies surged in value as Minnesota reels from $9B fraud
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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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.
With mounting public pressure on Omar surrounding multi-billion fraud schemes in Minnesota — and questions about whether the congresswoman could have benefited from them — the company has since stripped its website of all its team member names and bios. It’s unclear if any of them remain affiliated with the company.
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Omar’s office did not respond to a request for comment about the company’s growth or why it removed the names of its employees.
Similarly, ESTCRU LLC, a winery registered in Santa Rosa, California, that first appeared on Omar’s disclosure reports in 2020, reported a value between $1 million and $5 million in 2024. It was evaluated at just $15,000 to $50,000 the year before.
Despite its increased evaluation, the company’s portal for purchasing wine doesn’t appear to work. The company also lacks a recent social media footprint, with its last post having gone up in January 2023.
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The phone number displayed on its website also is not in operation.
Omar’s office did not respond to a request for comment about the evaluations of either company. The clerk for the House of Representatives has not yet released disclosures for 2025.