On February 18, 2007, he stepped down as a result of the controversy surrounding his involvement with Anna Nicole Smith. On May 2, 2007 he was re-elected to his seat in Parliament, but as an opposition member because his party lost the general election to the Free National Movement. In April 2020, in a lawsuit against Peter Nygård it was alleged that Nygård "gifted" Smith to Gibson.
He stepped down on February 18, 2007, because of the controversy surrounding his involvement with Anna Nicole Smith. He was re-elected to Parliament on May 2, 2007, but as an opposition member after his party lost the general election to the Free National Movement. In April 2020, it was alleged in a lawsuit against Peter Nygård that Nygård had transferred Smith to Gibson.