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Panama Papers Record First Victim As Iceland Prime Minister Resigns

Following the mind-boggling data leak bordering on corruption that has indicted many public figures around the world, the Prime Minister of Iceland, Sigmundur Davíð Gunnlaugsson has resigned.

Sigmundur Davíð Gunnlaugsson came under increasing pressure to resign after allegations he and his wife set up a company in the British Virgin Islands with the help of a law firm at the centre of the ‘Panama papers’ tax evasion leak.

The documents allege the Gunnlaugssons’ offshore company owned bonds in Iceland’s failed banks, and Gunnlaugsson was involved in negotiations as prime minister that may have affected the worth of those bonds.

The list of names of those implicated is extensive and covers a multitude of nationalities. Among the countries with past or present political figures named in the reports are Iceland, Ukraine, Pakistan, Saudi Arabia, Russia and Argentina, and the UK.

David Cameron’s late father Ian, Lord Ashcroft, Lionel Messi, Jackie Chan and Muammar Gaddafi are among those named in the documents.

A number of Nigerian politicians, including embattled pair, James Ibori and Bukola Saraki were also fingered by the publication.

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