Months after the ballooning wealth reported on her Financial Disclosure Report raised eyebrows, Rep. Ilhan Omar (D-MN) is blaming her accountant for inflating her net-worth by tens of millions of dollars.
Ballooning Wealth
As reported on Monday’s AM Update, the progressive congresswoman recently filed an amended financial disclosure form indicating that she actually is not a multimillionaire after all.
The Washington Free Beacon reported in September that Omar’s 2024 forms showed she and her husband, former political consultant Tim Mynett, accumulated a net-worth ranging from at least $6 million up to $30 million – a combined 3,500 percent over the previous year.
Most of that dough was said to have come from two companies Mynett has a stake in – venture capital firm Rose Lake Capital valued somewhere between $5 million and $25 million and a California-based winery ranging from $1 million to $5 million.
The wealth clashed with Omar’s carefully curated political image as a far-left “Squad” member, not a part of the 1 percent elite.
Revised Filings
Also of concern? The surprising speed of the financial growth, as the scrutiny unfolded amid a mounting fraud scandal in Minnesota’s Somali community. The timing led President Donald Trump and some Republicans to suggest Omar’s millionaire status may be related to that controversy.
In February, Republican Chairman of the Oversight Committee James Comer (R-KY) requested in a letter to Mynett all documents and communications related to the finances of the two companies. Omar’s husband did not comply with the request, leading the Oversight Committee to refer the matter to the House Ethics Committee.
The Wall Street Journal, which reviewed the congresswoman’s updated disclosures, reported the new filings were made in response to a letter from the Office of Congressional Conduct (OCC), the House office tasked with performing the initial review of allegations of congressional misconduct.
Once again, the sequence of events is raising questions. “So, Omar got a letter from the OCC investigating her, she and her husband refused to hand over their documents, and suddenly they revised her financial disclosures downward. Got it,” Megyn skeptically said on AM Update.
Omar’s lawyer tried to explain away the problem in a letter to the OCC. “As the busiest of people, it is very common for members and their spouses to rely on learned professionals, like accountants, to make calculations and determinations that appear on public filings,” it read, in part. “While the error is, of course, unfortunate, there is nothing untoward and nothing illegal has occurred.”
According to the Journal, the amended filing factors in Mynett’s business liabilities, effectively reducing the company’s value to zero. The couple’s assets are now listed between $18,000 and $95,000, and income from the assets are reportedly between about $100,000 and $1 million. The couple took $213,000 in distributions from the venture capital firm and $3,000 from the winery.
Omar’s aides say the congresswoman did look at the form before filing it in 2025, but the $6 million to $30 million error didn’t jump off the page for her because she isn’t involved with her husband’s businesses and trusted the accuracy of the accountant who provided her husband’s figures.
At least one or Omar’s colleagues in the House, fellow Minnesota Rep. Tom Emer, a Republican, isn’t buying it. “Ilhan Omar is a complete fraud. It’s amazing what kind of a con artist this woman is,” he told Fox News on Saturday. “She went from 65,000 net worth that she was reporting on her congressional disclosures to reporting over 30 million in net worth in just a few years. And guess what? Now she comes out and says, ‘Oh, that was a mistake on our disclosures. I just took a quick look at it and missed it.'”
“Not only should her accountant be fired, but that girl should be fired. And she does not deserve to be in Congress,” Emer added. “Quite frankly, if she is discovered to be involved in any of this fraud personally that she benefited from it, even by her actions of promoting it and trying to resist investigations, she should be held accountable to the fullest extent.”
You can get all the day’s headlines by tuning into the AM Update with Megyn Kelly on YouTube, Apple Podcasts, or wherever you like to listen. And don’t forget that you can catch AM Update on SiriusXM’s The Megyn Kelly Channel (channel 111).