{"id":103515,"date":"2026-01-17T20:33:11","date_gmt":"2026-01-17T20:33:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/103515\/"},"modified":"2026-01-17T20:33:11","modified_gmt":"2026-01-17T20:33:11","slug":"exclusive-house-probe-to-unravel-mystery-of-squad-rep-ilhan-omars-skyrocketing-wealth","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/103515\/","title":{"rendered":"Exclusive | House probe to unravel mystery of ‘Squad’ Rep. Ilhan Omar’s skyrocketing wealth"},"content":{"rendered":"

The House Oversight Committee is probing \u201cSquad\u201d Rep. Ilhan Omar\u2019s skyrocketing family wealth after a $9 billion Somali social services fraud scandal <\/a>exploded in her district,The Post has learned.\u00a0<\/p>\n

Oversight panel Chairman Rep. James Comer (R-Ky.) said staff lawyers are exploring the extraordinary step of subpoenaing Omar\u2019s spouse over his allegedly shady business practices.<\/p>\n

\u201cWe\u2019re going to get answers, whether it\u2019s through the Ethics Committee or the Oversight Committee, one of the two,\u201d he told The Post.<\/p>\n

Rep. Ilhan Omar revealed husband, Tim Mynett\u2019s ownership stake in her financial disclosure, which showed a sudden jump in wealth. Bloomberg via Getty Images<\/p>\n

Republicans want to know how Somali-born Omar (D-Minn.) and her politically-connected husband Tim Mynett went from nearly broke to being worth\u00a0up to $30 million in just a year<\/a>, according to her 2024 disclosure forms.<\/p>\n

\u201cThere are a lot of questions as to how her husband accumulated so much wealth over the past two years,\u201d Comer said. \u201cIt\u2019s not possible. It\u2019s not. I\u2019m a money guy. It\u2019s not possible.\u201d<\/p>\n

Separately, federal law enforcement is also probing. <\/p>\n

\u201cWe are investigating all politicians potentially connected to any of this [fraud] in Minnesota. You can read between the lines,\u201d said a law enforcement source.<\/p>\n

Unlike the Biden administration, which took no apparent action, Team Trump is \u201con top of it,\u201d the source said.<\/p>\n

The comments came as The Post learned the FBI was briefed during the Biden administration on suspicions about an array of companies run by Omar\u2019s hubby.<\/p>\n

This Washington home is listed as one of the couple\u2019s addresses. Andrew Thomas \u2013 CNP for NY Post<\/p>\n

House Oversight Committee lawyers are exploring a possible subpoena for Mynett over his business practices. @TimMynett\/X<\/p>\n

Investment firm Rose Lake Capital, formed by Mynett and partner Will Hailer in 2022, is part of a web of companies created by the lefty \u201cSquad\u201d member\u2019s husband of five years.<\/p>\n

Rose Lake Capital had a paltry $42.44 in its bank account in late 2022, according to court documents in a lawsuit against a related company filed in South Dakota. <\/p>\n

Yet the firm rocketed in value from\u00a0zero to up to $25 million in just a year, according to Omar\u2019s 2024 filing.<\/p>\n

Associates were perplexed enough in 2024 about alleged irregularities and questions about where the money was coming from that they brought information to the attention of federal investigators, sources said.<\/p>\n

Wall Street sources consulted by The Post called Rose Lake a \u201cred flag.\u201d RoseLake Capital<\/p>\n

The web site for Rose Link Capitol has been scrubbed. RoseLake Capitol<\/p>\n

They wondered whether the businesses \u2014 including a winery \u2014 might be up to something improper, since none had a public track record. <\/p>\n

Several prominent people had previously been listed as advising the Rose Lake firm, but are no longer present on its bright pink web page. They include former Sen. Max Baucus (D-Mont.), who once chaired the Senate Finance Committee and served as U.S. Ambassador to China under Barack Obama.<\/p>\n

Baucus said he had a single phone call with Hailer back in 2022 about a proposed deal to make storage units. \u201cThen nothing came of it\u201d beyond occasional emails from Hailer. \u201cThat went on for about four or five months or so, then just radio silence,\u201d he told The Post.<\/p>\n

\u201cHe stopped writing his emails about the investment \u2013 about how well he\u2019s doing, all that stuff. You can read between the lines \u2013 it sounded a little bit fishy,\u201d he said. Baucus said no one ever asked to use his name as an \u201cadvisor\u201d on the company website.<\/p>\n

The couple\u2019s net worth has skyrocketed from almost nothing to up top $30 million. Getty Images for Power to the Patients<\/p>\n

Also previously listed were former Rep. Collin Peterson (D-Minn.), who once chaired the House Agriculture Committee, and J. Peter Pham, a fellow at the Atlantic Council who served as President Trump\u2019s Special Envoy to Africa\u2019s Great Lakes Regions.<\/p>\n

\u201cObviously I\u2019ve seen reporting, including in The Post, about Will\u2019s partner who I\u2019ve never met and his wife [Omar] \u2013 Tim and his wife\u2019s sudden coming into riches. But [I] can\u2019t say anything about that, other than certainly I had no share in that,\u201d said Pham, who indicated he had a single meeting about a potential deal to build solar panels in South Africa and was called an \u201cadvisor\u201d by the company. Peterson didn\u2019t respond to requests for comment.<\/p>\n

Rose Lake\u2019s website claims to have had officers with \u201cprevious\u201d experience managing assets worth $60 billion, an amount that would make the firm a player that might attract notice.<\/p>\n

A Sonoma winery that produced wines like \u201cThe Devil\u2019s Lie\u201d is among Mynett\u2019s businesses that drew legal action eStCru Wines\/ Instagram<\/p>\n

But Wall Street insiders told The Post they had never heard of Rose Lake, or of anyone investing with them despite the firm boasting on its website that it had been running billions of dollars of assets\u00a0under management and engaging in an array of high-end financial activities including \u201cdeals, mergers and acquisitions, debt restructuring and capital raising.\u201d<\/p>\n

Another Wall Street source expressed shock that Mynett \u2014 a longtime political consultant in Minnesota \u2014 was suddenly running a financial firm.<\/p>\n

The firm also is not\u00a0registered with the Securities and Exchange Commission, Wall Street\u2019s top regulator, and doesn\u2019t say how much it is managing now.<\/p>\n

Omar has been known to wear designer sunglasses, like this $500 pair of Jimmy Choos shades. NYPost Design<\/p>\n

The Dodd Frank reforms imposed after the 2008 financial crisis created registration requirements for advisors overseeing $100 million in assets, or $150 million for private fund advisors, with some exceptions. So-called family offices can sidestep disclosure rules because they don\u2019t solicit outside investors. Venture capital firms are also exempt and Rose Lake touts VC work as one of its specialties.<\/p>\n

Still, Rose Lake\u2019s boast on its\u00a0website<\/a>\u00a0that it does private equity work and that its officers\u2019 had billions in \u201cprevious\u201d assets under management would suggest the fund would be required to register, said a former high-ranking SEC official. \u201cI would continue to push on the disclosure issue because this looks funny,\u201d the person said.<\/p>\n

Financial experts have also pointed to multiple variations of similar names for Rose Lake entities as raising \u201cred flags,\u201d\u00a0and that the company was scrubbing a list of its officers from its site in the wake of the multi-billion dollar fraud scheme involving the Somali community in his wife\u2019s district after a\u00a0front-page report from The Post.<\/a><\/p>\n

Republicans on the House Oversight Committee are set to probe Minneapolis fraud at a hearing next week. instagram<\/p>\n

In recent days, the firm has deactivated its LinkedIn page. Hailer is no longer mentioned on it.<\/p>\n

His own LinkedIn page no longer lists the firm \u2013 although it does identify him as a co-owner of the eStCru winery, which he launched with Mynett in 2020. <\/p>\n

Hailer previously worked as political director for then-Democratic National Committee chair Keith Ellison, now Minnesota\u2019s attorney general.<\/p>\n

Former ambassador to China and Sen. Max Baucus (D-Mont.) says he wasn\u2019t told the company listed him as an \u201cadvisor\u201d Getty Images<\/p>\n

The widening web of investigations are long overdue, House Majority Whip Rep. Tom Emmer (R-Minn.) told The Post.<\/p>\n

\u201cWhile Minnesotans have been getting fleeced to the tune of $9 billion by Somali fraudsters, Ilhan Omar and her husband have been raking in millions through their shady businesses,\u201d he said.<\/p>\n

\u201cThe explosion of wealth, plus the fact that convicted fraudsters helped fund Omar\u2019s campaign, is worth an investigation by the Ethics Committee at the very least.\u201d<\/p>\n

An SEC spokesman would not comment when asked about Rose Lake and its filings. The Post has contacted Mynett, Hailer, and Rep. Omar\u2019s office seeking comment.<\/p>\n","protected":false},"excerpt":{"rendered":"The House Oversight Committee is probing \u201cSquad\u201d Rep. Ilhan Omar\u2019s skyrocketing family wealth after a $9 billion Somali…\n","protected":false},"author":2,"featured_media":103516,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[12540,5800,9,11,10,1069,58],"class_list":{"0":"post-103515","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york","8":"tag-ilhan-omar","9":"tag-minnesota","10":"tag-new-york","11":"tag-new-york-headlines","12":"tag-new-york-news","13":"tag-trump","14":"tag-us-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/103515","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=103515"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/103515\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/103516"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=103515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=103515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=103515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}