Iceland’s PM resigns following ‘Panama Papers’ account disclosure

A massive leak of data from Panama's Mossack Fonseca law firm claimed its first high-profile victim on Tuesday as Iceland's Prime Minister Sigmundur Gunnlaugsson submitted his resignation after it was revealed that he and his wife maintained offshore bank accounts suspected of being used to avoid taxes. Following the disclosure, thousands of citizens held a huge protest in Reykjavik, the biggest of its kind in the capital since 2004. The huge trove of documents revealed the use of such accounts by thousands of businessmen, politicians, organized crime figures and security and intelligence officials from many countries.