The following is from House Oversight Republicans.
House Committee on Oversight and Government Reform Chairman James Comer (R-Ky.) is raising serious concerns about financial disclosures filed by Rep. Ilhan Omar (D-Minn.) indicating that her husband holds ownership stakes in two companies—eStCru LLC and Rose Lake Capital LLC—whose reported value unexplainably surged from $51,000 in 2023 to as much as $30 million in 2024.
In a letter to Rose Lake Capital LLC President and Rep. Omar’s husband Timothy Mynett, Chairman Comer noted the companies’ lack of publicly available investor information and requested all documents and communications related to the finances of eStCru LLC and Rose Lake Capital LLC.
“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,” wrote Chairman Comer.
In 2021, Mr. Mynett allegedly promised a D.C.-area investor a 200% return on $300,000 in eStCru, plus interest, but did not repay the funds until sued for fraud in 2023. Media reports indicate eStCru faced financial trouble in 2023, raising concerns about how its valuation substantially increased.
Rose Lake Capital, identified as a venture capital firm in Rep. Omar’s 2024 financial disclosure, has also seen a significant rise in value. The firm discloses little publicly and, although it once highlighted prominent advisors, current information about its employees, assets, and investors is unavailable.
“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,” continued Chairman Comer. “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.”
Read the letter here or below.
Mr. Timothy Mynett
President and Co-Founder
Rose Lake Capital LLC
Partner
eStCru LLC
Dear Mr. Mynett:
The Committee on Oversight and Government Reform is investigating widespread fraud in Minnesota’s social services programs. 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. As a result, the Committee requests documents and communications related to the finances of eStCru LLC (eStCru) and Rose Lake Capital LLC (Rose Lake Capital).
Representative Omar’s 2023 Financial Disclosure Report, filed on May 14, 2024, lists a stake in your winery eStCru worth between $15,001 and $50,000, and a stake in your venture capital management firm Rose Lake Capital worth between $1 and $1,000, as well as various retirement accounts, making your combined total listed assets worth no more than $208,000.
Representative Omar’s 2024 Financial Disclosure Report, filed on May 14, 2025, lists a stake in eStCru worth between $1,000,001 and $5,000,000, and a stake in Rose Lake Capital worth between $5,000,001 and $25,000,000, making both of your assets potentially worth more than $30 million, an increase of more than 140 times in just one year.
There are serious public concerns about how your businesses increased so dramatically in value only a year after reporting very limited assets. In 2021, you reportedly promised a Washington, D.C. area restaurant owner a 200 percent return on a $300,000 investment in eStCru within eighteen months, plus 10 percent monthly interest if that return was not paid on time. However, you did not return the money until the investor sued you for fraud in October 2023. The lawsuit alleges that you “fraudulently misrepresented … that eStCru LLC was a legitimate company.” Media reports in 2024 also indicate that eStCru was in financial distress and could not pay its winemaker in 2023. 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.
Financial records also show a sharp increase in Rose Lake Capital’s valuation, which Representative Omar’s 2024 Financial Disclosure Report describes as a “venture capital management” organization. Very little public information is available about the company. Its website claims that Rose Lake Capital manages $60 billion in assets. 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 provides no asset portfolio information.
An earlier version of Rose Lake Capital’s website states that the company “focuses our work and investments on socially responsible investing (SRI) principles using the United Nations Sustainability Development Goals as our guiding force.” The prior website also identifies you as a co-founder and partner and lists former U.S. ambassadors and Members of Congress as advisors. This information has since been removed from Rose Lake Capital’s website.
To assist the Committee’s oversight of this matter, we request the following information, covering the time period January 1, 2020, to the present unless otherwise indicated, as soon as possible but no later than February 19, 2026:
- All communications and documents related to, including a copy of, audited financial statements of the fiscal years ending after January 1, 2020, to the latest audited fiscal year for both eStCru LLC and Rose Lake Capital LLC;
- All filings, documents, and communications between eStCru LLC and the Securities and Exchange Commission and any other federal and/or state regulatory bodies, including but not limited to any Form(s) ADV, PF, 13F, D, N-1A, N-2, N-CEN, and/or N-PORT;
- All filings, documents, and communications between Rose Lake Capital LLC and the Securities and Exchange Commission and any other federal and/or state regulatory bodies, including but not limited to any Form(s) ADV, PF, 13F, D, N-1A, N-2, N-CEN, and/or N-PORT;
- All documents and communications related to travel by anyone affiliated with Rose Lake Capital LLC or eStCru LLC to the United Arab Emirates, Somalia, or Kenya, or travel undertaken to solicit business connected to those countries. This includes the dates of travel, the individuals who traveled, and the stated purpose of each trip.
The Committee on Oversight and Government Reform is the principal oversight committee of the U.S. House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
To arrange for delivery of documents or to ask any related follow-up questions, please contact the Committee on Oversight and Government Reform Majority staff at (202) 225-5074. Thank you for your attention to this important matter.
Sincerely,
James Comer
Chairman
Committee on Oversight and Government Reform
cc: The Honorable Robert Garcia, Ranking Member
Committee on Oversight and Government Reform
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