Icelandic Prime Minister Resigns Following Panama Papers Revelations 5 years ago

Icelandic Prime Minister Resigns Following Panama Papers Revelations

Prime Minister of Iceland, Sigmundur Gunnlaugsson has resigned in the wake of the Panama Papers scandal.

President Olafur Ragnar Grimsson cut short a visit to the US to deal with the crisis.

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The Guardian report that the Agriculture and Fisheries Minister Sigurður Ingi Jóhannsson told a state broadcaster in Iceland that he would be replacing Gunnlaugsson.

It was revealed that Gunnlaugsson's wife owned a secret offshore investment company linked to Iceland's failed banks.

"The leaked documents from the Mossack Fonseca law firm show Gunnlaugsson and his wife, Anna Sigurlaug Pálsdóttir, bought a British Virgin Islands-based offshore company, Wintris Inc, in December 2007 to invest her share of the proceeds of the sale of her father’s business, Iceland’s only Toyota importer."

Although there is no evidence of evasion, the people of Iceland are still angry that their Prime Minister hid money offshore even if it was done totally legally.

Bigitta Jónsdóttir of the radical Pirate party said “People just feel humilated.”