Scotland's biggest fraudster yesterday agreed to hand over £63,000 'profit' from his crimes.

Bank manager Donald MacKenzie carried out a £21m scam over five years - putting him in the record book for white collar crime in Scotland.

But when he was jailed last year a court heard that the money from the bogus loans he processed had gone to others, not MacKenzie himself. His take was increased bonuses from the Royal Bank of Scotland where he worked as one of their star employees.

At the High Court in Edinburgh yesterday lawyers agreed that MacKenzie's benefit amounted to £63,000 and judge Lord Eassie agreed that was the sum which should be confiscated.

MacKenzie, 45, was named as business manager of the year three times by the Royal Bank of Scotland - in 2002, 2003 and 2004 - while he was ripping them off.

But after he was caught out he was jailed for 10 years last June, a sentence which was later reduced on appeal to six years and eight months.

MacKenzie then faced moves by the Crown to strip him of his criminal gains.

In January he failed in a bid to have the confiscation proceedings halted on a legal technicality and behind-the-scenes talks continued to reach yesterday's agreed figure.

Jailing MacKenzie in June 2006, judge Lord Kinclaven said he had admitted a prolonged and systematic fraud and a gross breach of trust.

The father-of-two earlier admitted obtaining bogus loans and opening a string of false accounts while he held "a position of management and trust" at its West End branch in Edinburgh's Princes Street.

Defence QC David Burns claimed MacKenzie committed the frauds because he felt under pressure to process large numbers of loans to business clients.

MacKenzie was caught after the RBS introduced a new computer system. They found that suspect data had been put in by MacKenzie and traced a series of "highly suspicious" transactions.

Police investigations uncovered that MacKenzie would go for long business lunches with business clients. Top Edinburgh restaurants such as Oloroso were sometimes chosen as the venues for the lunches.

But before he was jailed, first offender MacKenzie, of Belgrave Gardens, Edinburgh, was sacked by the bank and worked stocking freezers and stacking shelves at a Tesco supermarket.

Detective Constable Harris, of Lothian and Borders Police, who was part of the investigation team, said: "We are led to believe this is the biggest fraud in Scottish history. There is nothing to compare it with, to be honest."

The bank has taken steps to recover the money but a judge was earlier told an estimated £10m remains outstanding.

Father-of-two MacKenzie admitted obtaining loans totalling £21,386,040.31 from the bank by fraud over a five-year period up to March 2004.

He opened a string of false accounts to receive loans from the bank.

He also pled guilty to stealing £37,170 between May 15, 2000 and April 14, 2004 while employed as a business manager.

Mr Burns said the said the multi-million fraud was committed by MacKenzie "for reasons of a misguided sense of service rather than personal gain".

He added: "He did not benefit from this scheme, in the sense that he did not obtain any of the £21m. That £21m went to genuine customers of the bank.

"As a business manager he felt under substantial pressure to process large numbers of loans to business clients. He responded to that pressure by advancing money by-passing the banks monitoring systems.

"In order to disguise the fact the loans had been advanced he opened bridging accounts in false names, drew down funds into them and paid those funds to customers."