The former director of Midas Financial Solutions has been ordered to hand over only £814.35 despite having made more than £13 million from his Ponzi scheme.

Scottish businessman Alistair Greig, 69, originally from Cairnbulg in Aberdeenshire, who is currently serving a ten-year prison term, used his ill-gotten gains to fund a lavish lifestyle, including investments in property, top-of-the-range cars, holiday homes, and trips to English Premiership matches.

The Crown listed a total of 165 victims of fraud on the indictment brought against Mr Greig. He was found guilty of obtaining £13,281,671.25 by fraud through his scheme between August 2001 and October 2014, as well as breaching financial services and markets legislation and converting and transferring £5.7m in criminal property.

The prosecutors and Mr Greig’s legal team agreed that there is £814.33 available to seize at this point in time, but they will return to court if any more of Mr Greig’s ill-gotten gains are discovered, The Scotsman reports.