The focal point of the current political scandal involving PM Sigmundur Davíð Gunnlaugsson is an offshore company located in an Island called Tortola, a part of the British Virgin Islands in the Caribbean. The company’s name is Wintris Inc. The company was formed around the PM’s wife’s family wealth, a prepaid inheritance that she, Anna Sigurlaug Pálsdóttir, by way of threatening to sue her father in December 2006, (case was later dropped) acquired during the summer of 2007.1 The PM owned 50% in the company until December 31st 2009. According to the PM’s wife’s Facebook status update of March 15th 2016, the company owns the equivalent of ISK 1.2. billion, half of which in the form of claims on the three former big Icelandic banks, Kaupthing, Landsbankinn and Glitnir, in whom Wintris inc. owned bonds, and all of which were nationalized in October 2008.
The PM entered swiftly into Icelandic politics in 2009, becoming the leader of the Progressive Party January 18th that year, and subsequently was elected to Parliament on April 25th 2009. Though required of sitting MPs, Sigmundur Davíð never disclosed his ownership or connection to said company. Following the PanamaPapers leak on April 3rd, his connection to Wintris has become headline news all over the world, the PM sharing column inches with other current or former heads of state, such as Vladimir Putin, Bashar Al-Assad, Muammar Gaddafi and Hosni Mubarak.