New York says it’s wrapping up probe into Trump’s ‘Russian nesting doll’ finances

Judge asked prosecutors why they’re taking so long in high-profile probe

The New York State Attorney General’s Office is close to unravelling the Trump Organization’s "Russian nesting doll" finances, according to reports.

Attorneys said they still waiting to search two cell phones belonging to Donald Trump, plus the laptop of a long time executive assistant, after they were pressed on why the three-year investigation was taking so long.

"The process is near the end," Kevin Wallace, senior enforcement counsel at the New York State Attorney General’s Office, told a judge, according to CNN.

Trump on Monday was held in civil contempt and fined $10,000 per day until he hands over documents requested in a subpoena for the investigation into his real estate company.

"Given the upcoming end of the tolling agreement we will likely need to bring some kind of enforcement action in the near future to preserve our rights," Mr Wallace added, referencing an agreement to pause the statute of limitations, which ends on Saturday.

New York state Judge Arthur Engoron questioned where the investigation was going given it has taken so long since brought by Attorney General Letitia James, who campaigned on aggressively investigating Trump’s businesses and finances.

After three years, Mr Wallace said a third-party firm had identified 151 people or entities that could have documents sought by the attorney general’s office.

But he added they are seeking the "most important outstanding pieces of information" before time to file a lawsuit ran out, CNN reported. That includes Rhona Graff, the long-time aide of Mr Trump.

Before filing a lawsuit, the attorney general’s office has agreed to meet with Trump’s attorneys to discuss what "appropriate resolutions might look like", Mr Wallace said.

"The company relies more on its people than its systems," Wallace said, pointing to hundreds of entities moving millions of dollars around multiple business units.

"Each of these assets is like a Russian nesting doll," Mr Wallace said.

Trump Organization attorney Alina Habba countered at Monday’s hearing that there were multiple layers and multiple people "because that’s how real estate companies operate".