Panama leaks, better known as ‘Panama Papers’, which rattled the regulatory world this week claimed first victim last night, Iceland’s Prime Minister. According to Panama Papers leak, world elites, which includes current and former global leaders and their friends, entertainment artists, sportsmen and business leaders have hidden parts of their wealth in companies set up by Panama law firm, Mossack Fonseca.
The names released so far includes big names like, close allies of Vladimir Putin, Family members of Nawaz Sharif, son of ex Secretary General of UN, Footballer Lionel Messi, Ukraine’s President Petro Poroshenko and many more.
Iceland’s Prime Minister, Sigmundur David Gunnlaugsson became the first political casualty as he was forced to resign after 22,000 people took to the streets. He was seeking dissolution of parliament, which was denied by President. He became the second Prime Minister to resign position after financial crisis of 2008/09.
Mr. Gunnlaugsson came to power by announcing to be tough on the creditor to the banks of Iceland, which now after the release turns out to be his wife.
This Panama leak is biggest ever in history, expect far more casualties than just one.
The material has been provided by InstaForex Company – www.instaforex.com