An explosive revelation of classified documents has named more than 140 world politicians belonging to more than 50 countries involved in offshore dealings.
Now known as the Panama Papers, the leaks also include the name of Icelandic Prime Minister Sigmundur David Gunnlaugsson.
Gunnlaugsson is accused of hiding millions of dollars of investments in his country's banks via an offshore shell company Wintris Inc., set up in 2007 on the Caribbean island of Tortola in the British Virgin Islands. He co-owned the secretive business venture with his then-partner and now wife Anna Sigurlaug Pálsdóttir.
Shortly after the Panama Papers were published, a Swedish journalist asked Gunnlaugsson about his ownership of Wintris.
Visibly uncomfortable by the question, the politician stormed out of the interview, saying: "What are you trying to make up here? This is totally inappropriate."
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As a result of the details released in the historic exposé of global corruption, Gunnlaugsson is now facing calls for a snap election as well as immediate resignation if he cannot regain public trust.
“We can’t permit this. Iceland would simply look like a banana republic. No one is saying he used his position as prime minister to help this offshore company, but the fact is you shouldn’t leave yourself open to a conflict of interest. And nor should you keep it secret,” former finance minister Steingrimur Sigfusson told the Guardian.