James Comer is Chairman of the House Oversight Committee. | https://oversight.house.gov/chairman-james-comer/
House Oversight Committee Chairman James Comer has requested financial records from two companies linked to Representative Ilhan Omar’s husband, Timothy Mynett. The request follows concerns about a sharp increase in the reported value of eStCru LLC and Rose Lake Capital LLC, in which Mynett holds ownership stakes.
According to Comer, financial disclosure forms filed by Rep. Omar show that the combined value of these companies rose from $51,000 in 2023 to as much as $30 million in 2024. In a letter addressed to Mynett, Comer stated: “Financial disclosure forms, filed by your wife Representative Ilhan Omar of Minnesota, show eStCru LLC and Rose Lake Capital LLC, which you hold ownership stakes in, went from being worth as much as $51,000 in 2023 to as much as $30 million in 2024. 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. Media reports further suggest that you may have raised money from investors using misleading information, meaning some of those funds may have been obtained improperly.”
The committee is also looking into past allegations involving Mynett and eStCru LLC. In 2021, Mynett reportedly promised a D.C.-area investor a 200% return on a $300,000 investment but did not repay the funds until after being sued for fraud in 2023. Media coverage indicated that eStCru faced financial difficulties during that period.
Rose Lake Capital is described as a venture capital firm on Rep. Omar’s latest financial disclosure form and has experienced a notable rise in valuation. However, little public information is available about its employees or assets.
“There are serious public concerns about how your businesses increased so dramatically in value only a year after reporting very limited assets. Further, after these reports about financial trouble and alleged fraud, the Committee has serious questions about how eStCru’s valuation increased by up to $5 million in a single year,” Comer wrote. “According to Rose Lake Capital’s website, it is staffed by five former diplomats who have experience in over 80 countries and involvement in 11 free trade agreements. However, the website does not name specific employees or advisors and no asset portfolio information. As a result, the Committee requests documents and communications related to the finances of eStCru LLC and Rose Lake Capital LLC.”
The committee seeks documentation regarding both companies’ finances due to the lack of transparency around their investors and business activities.
