The venture capital firm led by Rep. Ilhan Omar’s husband has quietly removed his name from its website as questions mount over the congresswoman’s sudden rise from debt to tens of millions of dollars in declared assets—amid one of the largest alleged welfare fraud schemes in U.S. history unfolding in her own district.

The firm, Rose Lake Capital, launched by Omar’s husband, political consultant Tim Mynett, reported almost no assets in 2023. Within a year, it claimed a valuation between $5 million and $25 million and asserted—without public documentation—that it manages up to $60 billion in assets, a staggering figure even by Wall Street standards. Yet the company’s listed headquarters is a Washington, D.C., WeWork location, and its public footprint is minimal.

As federal prosecutors expanded indictments in a sprawling Minnesota welfare fraud case—one that authorities say could total as much as $9 billion—Rose Lake Capital quietly scrubbed the names and biographies of nine officers and advisors from its website. Those removed included former Obama administration ambassadors, senior Democratic Party finance figures, and a former CEO of a bank long associated with Democratic political operations. None have been charged, but the timing of the removals has raised eyebrows.

At the same time, Omar’s own financial disclosures show a stunning transformation. When she entered Congress in 2019, she reported a negative net worth, owning no assets and carrying only student and car debt. In her most recent filing, she declared assets ranging from $6 million to as much as $30 million—just months after publicly dismissing claims that she was a millionaire as “categorically false.”

The wealth surge coincided with the exposure of massive fraud within Minnesota’s pandemic-era children’s meal programs—programs overseen under loosened federal rules that Omar herself helped enact. In 2020, she introduced the MEALS Act, legislation that relaxed oversight requirements for government-funded meal programs during COVID-19.

Federal prosecutors later said those relaxed standards were exploited by fraudsters who claimed to serve millions of meals that never existed, siphoning hundreds of millions—and possibly billions—of taxpayer dollars.

Nearly 90 people have been charged so far. At least three had direct ties to Omar’s political orbit, though she has not been charged.

Among them was Salim Ahmed Said, co-owner of Safari Restaurant in Minneapolis, where Omar held her 2018 congressional victory party. Said was convicted of stealing more than $12 million after falsely claiming to serve millions of meals, prosecutors said. Court filings detail lavish spending, including a $2 million home and tens of thousands of dollars a month in luxury shopping.

During the height of the program, Omar appeared in a video at Safari Restaurant praising its role in feeding children, stating—falsely, prosecutors would later note—that thousands of meals were being provided daily.

Another individual, Guhaad Hashi Said, worked on Omar’s campaigns and later pleaded guilty to running a fake meal site that fraudulently claimed to serve 5,000 meals per day, netting more than $3 million.

Omar’s campaign acknowledged receiving $7,400 in donations from individuals later convicted in the scheme, saying the money was returned after the scandal broke.

Meanwhile, Mynett’s other business ventures have drawn renewed scrutiny. A California winery he was involved with—previously declared a failed venture—suddenly reported a valuation increase of nearly 10,000% within a year, despite having a disconnected phone number, a broken website, and no visible product sales. That winery previously faced a lawsuit alleging nearly $900,000 in investor fraud, which was settled out of court.

The Treasury Department and Justice Department have launched investigations into potential money laundering connected to the broader scandal.

Republican officials have accused Omar of benefiting politically and financially while fraud flourished under relaxed rules she championed. They have also questioned why Minnesota officials, including Gov. Tim Walz, failed to intervene sooner as warning signs mounted.

Omar has defended the MEALS Act, saying it “did help feed kids,” and has denied wrongdoing. Her office declined substantive comment this week, citing a holiday closure.

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