Police have raided the offices of PricewaterhouseCoopers and KPMG in Iceland searching for information related to banking clients that went bust.

“The purpose of the searches was to look for and secure evidence related to the investigation of several charges,” said a statement by special prosecutor Olafur Hauksson, according to United Press International.

A total of 22 police officers and six forensic accountants were involved in the raid after Iceland's three largest banks — Glitnir, Kaupthing and Landsbanki — failed last year in the wake of the global financial crisis. The bank failures led the country into a deep recession, huge job losses, and a change in government administration. The special prosecutor is probing violation of laws on accounting, annual reports, financial institutions, securities transactions and public limited companies.

The U.K.’s Serious Fraud Office has also been helping in the investigation, as Great Britain had about 300,000 depositors at the Icelandic banks, which marketed their services heavily abroad.

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