Iceland’s Prime Minister Sigmundur David Gunnlaugsson offered his resignation Tuesday after the Panama Papers report exposed his covered-up offshore account, according to local reports.
His resignation came the day after the damning report drew hundreds of protesters to the parliament building in Reykjavík, demanding Gunnlaugsson step down.
The Panama Papers report revealed Gunnlaugsson as one of dozens of sitting or former world leaders who used offshore accounts to skirt taxes and keep his fortune hidden. The report alleged Gunnlaugsson sold half of his secret company to his wife the day before a new federal law would have required him to declare it as a conflict of interest.
Gunnlaugsson’s resignation is the first political shakeup from the report, which also tied business billionaires, movie star Jackie Chan and soccer player Lionel Messi to offshore networks. The papers also implied Russian President Vladimir Putin is connected to a $2 billion scheme involving his friends and family