Iceland PM Sigmundur Gunnlaugsson has temporarily resigned from office amid mounting public outrage that he hid millions in offshore account as shown on documents allegedly leaked from a Panamanian law firm.
According to a government press statement, in the face of growing popular uproar in his tiny mid-Atlantic nation over his links to an offshore company in a Caribbean tax haven revealed in some of the leaked documents.
The leaked documents from the Mossack Fonseca law firm in Panama reveal 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 very substantial proceeds from the sale of her father’s business, Iceland’s only Toyota importer.
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Gunnlaugsson sold his 50% stake to his wife for a symbolic $1 at the end of 2009, eight months after he was elected to parliament as an MP for the centre-right Progressive party. He failed, however, to declare an interest in the company either then or when he became prime minister in 2013.
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