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Shocked? Rep. Ilhan Omar has lost tens of millions, is broke?!

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by Frank Holmes, reporter

Shocking new financial documents reveal that one of America’s most radical socialist legislator’s net worth has plunged by tens of millions of dollars in just months.

It wasn’t a big stock market loss or a business collapse. She claims it was a simple clerical mistake. Her critics call it fraud.

Rep. Ilhan Omar, D-Minn., set off shockwaves when mandatory federal financial disclosures showed Omar with a net worth between $6 million and $30 million.

The Justice Department launched an investigation of her windfall. The House Oversight Committee started asking questions, as well.

Now Omar’s office claims the whole thing was just a big misunderstanding. The report showing her worth millions was based on an accounting error that showed her family’s assets without liabilities and allegedly reported the whole value of companies instead of the share owned by her husband.

“The original filing was based on incomplete information from Mr. Mynett’s businesses’ accountants in good faith and deference to professional judgment,” stated Omar’s office.

In a new financial disclosure filed May 13, Omar insists she and her husband have total assets in the range of $20,000 to $125,000—but much, much larger liabilities.

The Mogadishu moll came to the U.S. as a refugee in 1995 and graduated North Dakota State University with bachelor degrees in political science and international studies…in 2011. But she still has outstanding student loans between $15,000 and $50,000.

No wonder she supports making taxpayers foot the bill for outstanding student loans/

Her husband, Tim Mynett, also racked up between $15,000 and $50,000 in credit card debt.

Their combined debt of gives them anywhere from a negative net worth of -$80,000 to a positive net worth of $95,000 in the black.

But investigators say there are lots of reasons to question the figures and probe to see whether Omar is coming clean about her husband’s failure as a businessman or lying to cover up the socialist’s new status as part of the millionaire’s club.

“Last year, Ilhan Omar’s financial disclosure revealed skyrocketing wealth,” said fellow Minnesota Congressman Tom Emmer, a Republican. “This about face shows incompetence at best and a cover-up at worst.”

When Omar made her first successful bid for the U.S. House of Representatives in 2018, unpaid student loans gave her a reported negative net worth between -$25,000 and -$65,000. The campaign finance watchdogs at OpenSecrets.org estimated her net worth at $45,001 in the hole that year.

But by 2023, official government filings showed that Omar had accumulated an eye-popping $6 million to $30 million in wealth. That meant Omar’s net worth exploded by an unlikely 3,500 percent in just two congressional election cycles.

When the public felt outraged, Omar backpedaled away from the backlash.

She filed an amended form, seen by The Wall Street Journal, reportedly showing her with a total net worth between $18,004 and $95,000—numbers that do not perfectly match her final statement.

“The amended disclosure confirms what we’ve said all along: The congresswoman is not a millionaire,” Omar spokeswoman Jacklyn Rogers told WSJ in April.

“It confirms what we have believed all along,” responded the conservative National Legal and Policy Center, “that her husband Tim Mynett’s two businesses are failures.” NLPC filed an initial complaint with Congress over Omar’s checkered finances in June 2024 and a supplemental complaint with Congress over Omar’s checkered finances in February.

The facts make a compelling that there’s definitely something screwy happening with Omar’s finances.

The Horn told you years ago that Ilhan Omar steered almost $3 million to a campaign firm run by her current husband, the E Street Group. The amount constituted up to 80 percent of Omar’s total campaign funds, according to NLPC.

At the time, Ilhan Omar and Tim Mynett were married to other people but having an affair. Soon, they divorced their respective spouses and married each other. The marriage gave Omar lifelong companionship—and the ability to keep prosecutors from forcing Mynett to testify against her in court.

The newly-married Mynett announced he would leave campaign consulting and start a venture capital fund, Rose Lake Capital, which had a mere $1,000 in the bank in 2023. One year later, in the election year of 2024, it reported between $5 million and $25 million in assets.

This year’s amended filing lists Mynett’s income from the firm as “none.”

Then there’s the mystery of Mynett’s winery.

The Horn told you Mynett’s winery, eStCru, had somewhere between $15,000 and—a 10,000 percent increase.

Then, suddenly, it shut down. Mynett only reported income came to between $201 and $1,000 from the winery.

Then again, Mynett’s company called one of its wines “The Devil’s Lie”—and investigators think Omar is guilty as sin.

“Omar has spent her entire career covering up Democrat-enabled fraud that cost taxpayers billions, so it’s no surprise that she would do the same for her husband,” Republican National Committee spokeswoman Delanie Bomar told the New York Post.

Omar also failed to report $3.5 million her husband got from his marijuana business—which allegedly ripped off a partner for $1.7 million—according to NLPC.

Questions proliferate about Omar’s profitability.

Were the figures “bad luck (o)r… deception?” asked Ward Clark of RedState.com. After all, Mynett “has decades of experience in venture capital. He’s a D.C. insider. Now, think on that for a moment. A guy doesn’t stay in a business like venture capital if he’s so incompetent that a 30 million dollar goof in reporting goes unnoticed. And he doesn’t stay in a business like that by backing ventures like failing wineries that only produce a few dozen bottles of vino.”

It’s not just conservatives who have begun asking questions. The International Business Times, a pillar of the global Fake News Media, asked, “How Rich Is Ilhan Omar Really? New Filing Deepens the Net Worth Mystery.” The series of inflations and deflations “have raised serious questions” about her bank account—and her truth-telling, said the IBT.

“Ilhan Omar and her husband need to be held accountable for their sketchy financial disclosures. They’re clearly lying and trying to game the system,” said Rep. Emmer, the House Majority Whip.

“She can’t keep her story straight,” NLPC Counsel Paul Kamen told The Washington Free Beacon. “There needs to be a full audit to straighten this out.”

The problem, said Ward, is socialism’s business model. “Ilhan Omar, like so many far-left nutbar politicians, is operating on the classic socialist/communist principle: Riches for me, moldy potatoes for thee,” said Ward. “Rep. Omar will probably be able to go on gaming the system as long as she desires to stay in Congress.”

Whatever the facts about Omar’s figures, her financial scandal is far from the only alleged act of Somali fraud—even in her own life.

Ilhan Omar reportedly married her brother for immigration reasons, while apparently posing as the wife of another man. The Horn told you all about it in 2019.

Omar authored the MEALS (Maintaining Essential Access to Lunch for Students) Act to increase federal funding for programs like Feeding Our Future. The owners of the Safari Restaurant, which benefited from the program—Ahmed Ghedi and Abdihakim Ahmed—donated $5,400 to Omar’s campaign.

Did she channel your tax dollars to her donors and back into her own pocket, the way she gave campaign donations to her future husband’s political consulting business?

President Donald Trump has had enough. He’s initiated a nationwide investigation into fraud, threatened to denaturalize and deport those found guilty, and said America needs to halt all immigration from Omar’s home country.

Somalia’s “barely a country. They just run around killing each other,” said President Trump recently.

“I don’t want ‘em in our country, to be honest with you. Their country’s no good for a reason,” said President Trump, adding, “I could say that about a lot of countries.”

“Some say, that’s not politically correct. I don’t care,” he said truthfully.

As other fraud cases wind their way through the courts, “Omar’s reported finances are a mess,” declared a statement from the NLPC. “It is incumbent upon the Office of Congressional Conduct and the Justice Department to fully investigate. Neither Omar’s 2025 disclosure, nor the amendment for 2024, address all the questions about the underlying assets.”

If they uncover fraud in Omar’s finances, phony marriages, or shady winery and weed businesses, they should denaturalize the immigration liar and send her home to Somalia. It seems to be the only country she really loves.

About the Author

Frank Holmes is a veteran journalist and an outspoken conservative that talks about the news that was in his weekly article, “On The Holmes Front.”