As Questions About Ilan "Omar's" Sudden Fortune Grow, Her Husband Begins Deleting Information from His "Venture Capital" Website

Venture capital, huh?

Bet he has a lot of Somali "investors."

Embattled Rep. Ilhan Omar's husband's venture capital firm quietly scrubbed key officer details -- including former Obama officials -- as scrutiny grows over the family's skyrocketing wealth, The Post has learned.

Omar (D-Minn.) went from nearly broke to being worth up to $30 million in just a year -- as a massive, up to $9 billion fraud scheme involving the Somali community in her district unfolded right under her nose in the North Star State.

Close to 90 people have been charged so far, including at least three with direct ties to the lefty "Squad" member, though she has not been accused of wrongdoing.

It was Somalia-born Omar -- who was seen in a resurfaced video last month dishing out food in a restaurant now at the heart of the scandal -- who introduced the legislation that critics say paved the way for what the feds have called the largest fraud of the pandemic.

The Jimmy Choo-wearing socialist introduced the MEALS Act in Congress in 2020, relaxing oversight of government-sponsored children's meal programs during the pandemic, which critics say allowed fraudsters to claim they served millions of meals without verification, while pocketing millions of dollars in government subsidies.

Shortly after the scheme played out, Omar's husband, political consultant Tim Mynett, launched Rose Lake Capital, a venture capital management firm, in 2022.

The company saw its reported value go from nearly zero in 2023 to between $5 million and $25 million in just a year, and touted its officers' $60 billion in "previous" assets under management -- an amount many Wall Street money managers only dream of.

"There's a lot of strange things going on," said Paul Kamenar, counsel to the National Legal and Policy Center. "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."

Rose Lake Capital, which touts its "deep global networks built from on-the-ground work in more than 80 countries," had less than $1,000 in assets in 2023, according to Omar's financial disclosure.

Yet despite the reported windfall, the business's only address is a WeWork in DC, according to its LinkedIn page.

WeWork is a business that lets you rent out temporary, shared office space. So this multimillion dollar "global" capital venture firm doesn't have an actual permanent office.

Between September and October -- when federal prosecutors announced charges against eight more individuals, including six of Somali descent, for their roles in the welfare scheme -- the names and bios of Rose Lake Capital's nine officers and advisers were removed from the website. None of them were charged in the fraud.

These names include lobbyist and former Obama Ambassador to Bahrain Adam Ereli; former Senator and Obama Ambassador to China Max Baucus; DNC Finance Chair associate Alex Hoffman; former DNC treasurer William Derrough; and former ex-CEO of Amalgamated Bank Keith Mestrich, who once described Amalgamated as "the institutional bank of the Democratic Party."

Meanwhile, Mynett's other business, a California winery that previously faced fraud allegations and was declared a failed venture in 2023, was suddenly worth between $1 million and $5 million in 2024 -- a windfall of 9,900%.

Sounds like money laundering. "To conceal the source of money as by channeling it through an intermediary."

...

It too is listed as operating out of a WeWork, and doesn't appear to actually sell any wines anymore, according to extensive internet searches.

Despite the high worth placed on the business, its website is a broken link, the phone number is disconnected and the last social media post for the winery dates back to 2023.

"While working families were being ripped off by a massive welfare scam, Omar's campaign took money from convicted fraudsters, her husband launched a firm that suddenly ballooned in value, and [Minnesota Gov.] Tim Walz looked the other way," according to Kiersten Pels, spokesperson for the Republican National Committee.

...

Mynett did not return The Post's messages, and both his businesses' numbers were not working.

The Bee:

posted by Ace at 06:30 PM

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