• Tim Mynett’s firm quietly deleted names of former Obama officials between September and October 2025
• Removals coincided with federal charges against eight additional individuals in Minnesota fraud scheme
• Prosecutors estimate potential fraud losses could exceed $9 billion across 14 Medicaid programs

WASHINGTON, DC (TDR) — Rose Lake Capital, the venture capital firm founded by Rep. Ilhan Omar‘s husband Tim Mynett, quietly removed biographies and names of nine officers and advisors from its website between September and October 2025, according to reports published this weekend.

The removals coincided with federal prosecutors announcing additional charges in Minnesota’s sprawling welfare fraud scandal, which authorities now estimate could exceed $9 billion.

Among those scrubbed from the Rose Lake Capital website were 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 Amalgamated Bank CEO Keith Mestrich, according to The New York Post.

“There’s a lot of strange things going on. She was basically broke when she came into office and now she’s worth perhaps up to $30 million.”

Explosive Wealth Growth

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Rose Lake Capital launched in 2022 and reported less than $1,000 in assets in 2023. By 2024, Omar’s financial disclosures showed the firm valued between $5 million and $25 million. The company claims to have amassed $60 billion in assets under management, a figure that would rival established Wall Street firms. Its only listed address is a WeWork office in Washington, DC.

Paul Kamenar, counsel to the National Legal and Policy Center, told The Post that Omar “needs to come clean on these assets.” The NLPC filed a complaint with the Federal Election Commission in 2019 after Omar’s campaign routed most spending through Mynett’s political consulting firm before the couple married.

Fraud Scandal Deepens

Assistant U.S. Attorney Joe Thompson announced December 18 that 14 Medicaid services under audit for fraud have cost Minnesota $18 billion since 2018. He estimated that “half or more” could be fraudulent, describing it as “staggering, industrial-scale fraud.”

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The scandal initially centered on the Feeding Our Future program, which lost more than $250 million. Federal investigations have since expanded to housing stabilization services, autism treatment programs, and other Medicaid-funded initiatives.

Close to 90 people have been charged so far, including at least three with direct ties to Omar, though she has not been charged with any crime. Her campaign received donations from at least three now-convicted fraudsters, which she stated were returned.

Omar introduced the MEALS Act in Congress in 2020, which relaxed oversight of government-sponsored children’s meal programs during the pandemic. Critics have questioned whether the legislation inadvertently enabled fraud.

Additional Business Questions

Mynett’s California winery, eStCru, was declared a failed venture worth between $15,000 and $50,000 in Omar’s 2023 financial disclosure. By 2024, it was suddenly valued between $1 million and $5 million—a 9,900 percent increase. The business now appears defunct with a broken website, disconnected phone number, and no social media activity since 2023.

The Treasury Department launched an investigation in early December into allegations that tax dollars may have been diverted to the al-Shabaab militant group in Somalia, according to Treasury Secretary Scott Bessent. House Republicans opened their own investigation into the fraud schemes.

Should congressional financial disclosure requirements be strengthened to provide specific asset values rather than broad ranges?

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