Iceland PM Gunnlaugsson resigned after Panama papers leak revelations

Posted on:06 Apr 2016 13:00:21

Iceland PM Gunnlaugsson resigned after Panama papers leak revelations
06 April 2016 Current Affairs GK: Iceland Prime Minister Sigmundur Gunnlaugsson resigned on 5 April 2016. He resigned after the leaked Panama Papers exposed offshore finance and tax evasions by him. The leaks were from Panama-based law firm Mossack Fonseca, the world’s fourth biggest offshore law firm.The leaks showed Gunnlaugsson owned an offshore company with his wife but had not declared it when he entered parliament. He is accused of concealing millions of dollars' worth of family assets. He said that he sold his shares to his wife, and denies any wrongdoing.Iceland Prime Minister Sigmundur Gunnlaugsson resigned on 5 April 2016. He resigned after the leaked Panama Papers exposed offshore finance and tax evasions by him. The leaks were from Panama-based law firm Mossack Fonseca, the world’s fourth biggest offshore law firm.The leaks showed Gunnlaugsson owned an offshore company with his wife but had not declared it when he entered parliament. He is accused of concealing millions of dollars' worth of family assets. He said that he sold his shares to his wife, and denies any wrongdoing.

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