House Oversight and Government Reform Committee Chairman James Comer, R-Ky., is demanding documents from the husband of Rep. Ilhan Omar, D-Minn., after new financial disclosures showed his business holdings skyrocketed in value — a surge Republicans say raises red flags about transparency, investor influence, and potential misconduct.
In a release Friday, Comer said financial disclosure forms filed by Omar indicate that her husband, Tim Mynett, holds ownership stakes in two companies — eStCru LLC and Rose Lake Capital LLC — whose reported value surged from a combined total of as much as $51,000 in 2023 to as much as $30 million in 2024.
Comer said the lack of publicly available investor information for the firms makes the dramatic increase particularly concerning.
"Given that these companies do not publicly list their investors or where their money comes from, this sudden jump in value raises concerns that unknown individuals may be investing to gain influence with your wife," Comer wrote in a letter to Mynett.
Comer's letter, dated Feb. 5, noted that Omar's 2023 financial disclosure report listed a stake in eStCru — described as a winery — worth between $15,001 and $50,000, while Rose Lake Capital was valued between $1 and $1,000.
But in Omar's 2024 financial disclosure report, filed one year later, eStCru was listed as worth between $1 million and $5 million, while Rose Lake Capital was valued between $5 million and $25 million — putting the potential combined value at around $30 million.
Comer said the valuation explosion is especially difficult to explain given prior media reports suggesting Mynett's winery venture faced financial problems.
Comer's letter cites allegations that in 2021, Mynett promised a Washington, D.C.-area investor a 200% return on a $300,000 investment in eStCru, plus additional interest if repayment was delayed.
The funds were not repaid until the investor sued for fraud in 2023, according to the letter.
Comer also pointed to reports indicating eStCru faced financial distress in 2023, including alleged trouble paying its winemaker — raising questions about how its valuation could increase so sharply in such a short period.
Rose Lake Capital's valuation also drew scrutiny.
Comer wrote that the venture capital firm provides little public information about its investors, employees, or portfolio even though its website claims it manages $60 billion in assets.
The letter also noted that earlier versions of Rose Lake Capital's website listed high-profile advisers, including former U.S. ambassadors and members of Congress, but that information has since been removed.
Comer is requesting audited financial statements, SEC filings, and communications related to the firms, along with documents related to travel tied to business in the United Arab Emirates, Somalia, and Kenya.
For conservatives, the case is another example of why Washington's political class cannot be trusted to police itself and why financial transparency must apply equally to powerful Democrats who frequently lecture Americans about "ethics" and "equity."
Charlie McCarthy ✉
Charlie McCarthy, a writer/editor at Newsmax, has nearly 40 years of experience covering news, sports, and politics.
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