Six members of Iceland’s Office of the Special Prosecutor participated in the early morning raids, according to a website affiliated with Iceland’s state broadcaster Rúv.

The searches were carried out with the Luxembourg police at the office of Landsbanki Luxembourg and two other addresses, and no arrests were made, paperJam.lu reported.

The Luxembourg operations of three Icelandic banks--Glitner, Kaupthing and Landsbanki--were placed in administration following Iceland’s banking sector meltdown in 2008. Kaupthing’s Luxembourg unit was restructured and sold, Glitner’s was restructured and repaid its debt to the Banque central du Luxembourg last November, while Landsbanki’s is still in liquidation proceedings and facing fraud claims.

The Icelog website said investigators were pursuing accusations that Landsbanki group in Iceland (photo) allegedly manipulated its share price, lent money to shell companies to buy to its own shares, and that Landsbanki Luxembourg sold loans to its parent “only a few days before the bank collapsed in October 2008.”

In March 2011, Luxembourg police executed search warrants on behalf of British and Icelandic prosecutors surrounding the collapse of Kaupthing Bank.