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Rep. Omar's finances under scrutiny
Rep. Ilhan Omar's finances are under the microscope after a multi-million dollar jump in wealth. FOX 9's Soyoung Kim has more.
(FOX 9) - Rep. Ilhan Omar’s finances and multimillion-dollar jump in wealth, based on previous financial disclosures, have come under scrutiny by the Trump administration and GOP.
An Omar spokesperson says the discrepancy was due to an accounting error and says the revisions show the congresswoman is not a millionaire and even has student loan debt.
Multimillion-dollar discrepancy
The backstory:
Some Republicans have been questioning the Democratic lawmaker’s finances.
The Trump administration and House Oversight Committee Republicans have criticized Omar’s net worth jumping from a modest amount in filing year 2023 to at least $6 million in filing year 2024. The amended filings were first reported by the Wall Street Journal.
By the numbers:
Omar’s financial disclosures, filed last year for filing year 2024, showed Omar’s husband, Tim Mynett’s two companies he co-owns, a winery and venture capital management firm, to be worth between $6 million and $30 million.
In an amended disclosure filed just weeks ago, the valuation of her husband’s two companies are now listed as "none." And shows the couple’s combined assets are worth between $18,004 and $95,000.
Accounting error
What they're saying:
FOX 9 asked Omar about the significant discrepancy. A spokesperson for Omar sent this statement.
"The amended disclosure confirms what we’ve said all along: the Congresswoman is not a millionaire. The original filing was based on incomplete information from Mr. Mynett’s businesses’ accountants in good faith and deference to professional judgement. It listed assets without liabilities, and it significantly overstated her husband’s net worth. The accounting error created a misleading picture of far greater wealth. The Congresswoman amended her disclosures voluntarily as soon as the discrepancy was identified. The amended disclosure is now complete and accurate."
Omar’s spokesperson also says the discrepancy was found during the process of responding to a March letter the congresswoman received from the independent Office of Congressional Conduct. And says financial disclosures are commonly amended in Congress.
The other side:
"Last year, Ilhan Omar’s financial disclosure revealed skyrocketing wealth," said Republican Rep. Tom Emmer. "This about face shows incompetence at best and a cover-up at worst."
What's next:
Rep. Omar’s spokesperson says at this time they have not received any notice of any formal investigations into the congresswoman’s finances.