Akintayo Adedipe, 45, relinquished £106,801 after the CRU successfully applied to Glasgow Sheriff Court for forfeiture of the funds under the Proceeds of Crime Act 2002. The application was unopposed and granted in April 2026.
The funds were frozen after concerns about their origin emerged, including an attempt to reclaim them through the King’s and Lord Treasurer’s Remembrancer (KLTR), who has the authority to deal with ownerless property that falls to the Crown by operation of law, including when companies are dissolved.
A financial investigation found that the money was linked to fraudulent Bounce Back Loan applications made in 2020, and that there had been an attempt to use official processes to “clean” the funds.
Anne-Louise House, Head of the Civil Recovery Unit, said:
“The account forfeiture provisions under the Proceeds of Crime Act 2002 are an invaluable tool in tackling serious crime and reducing the harm it causes to our communities in Scotland.
“The forfeiture of £106,801 is a good example of successful joint working between the CRU, KLTR and HMRC.
“The money will now be put to good use in communities across Scotland through the Scottish Government's CashBack for Communities Programme.”
Adedipe obtained two loans in 2020 under the UK Government’s Bounce Back Loan scheme for two companies registered to an address in Glasgow.
Following the court’s decision, the funds have been transferred to the Scottish Consolidated Fund and will support projects through the CashBack for Communities programme.
A spokesperson for the KLTR said:
“Robust safeguards are in place to detect suspicious activity.
“In this case, concerns were identified quickly and acted upon in partnership with other agencies, preventing the misuse of public processes for criminal purposes.”