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Iceland PM becomes first scalp in Panama Papers

Iceland's Prime Minister Sigmundur David Gunnlaugsson speaks to media outside Iceland president's residence. REUTERS/Sigtryggur Johannsson

Iceland PM becomes first scalp in Panama Papers

Iceland Prime Minister Sigmundur Gunnlaugsson has become the first high profile casualty in the wake of the Panama Papers investigation.

Gunnlaugsson, who had been prime minister in charge of the population of about 330,000 for almost three years, resigned following massive protests after the papers revealed how the world’s wealthy avoid tax.

The documents allege Gunnlaugsson and his wife set up a company called Wintris in the British Virgin Islands with the help of the Panamanian law firm from which more than 11 million documents were leaked.

He is accused of a conflict of interest for failing to disclose his involvement in the company, which held interests in failed Icelandic banks that his government was responsible for overseeing.

Agriculture Minister Sigurdur Ingi Johannsson  will replace the prime minister for an interim period.

 

 

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