The Crown is poised to recover just £1 out of an estimated £120,000 fortune made by the murderer of a financial adviser whose body has never been found.

Colin Coates, 47, is believed to have profited by £119,967 from his illegal activities, prosecutors believe.

He is serving life in prison with a minimum of 33 years for his part in the abduction, torture and murder of Glasgow financial adviser Lynda Spence, 27 in 2011.

Ms Spence, who was involved in a property scam and owed money to Coates, was lured to a Glasgow flat and taken to a property in West Kilbride, Ayrshire. Once there, she was tied to a chair for two weeks and beaten and tortured by Coates and his accomplice Philip Wade.

A tracksuit-clad Coates yesterday tried to lead evidence at a proceeds of crime hearing at the High Court in Edinburgh, as prosecutors sought to seize his money.

Extortion falls under the terms of the legislation.

Crown accountant Jill Yahi told the court she had studied Coates’s finances from 2006 to 2012, and concluded he had made £119,000 from illegal activity. She added: “The money cannot be accounted for by legitimate reasons.”

However, the Crown believe they can only reclaim £1 from Coates, who is in Shotts Prison.

Coates, representing himself, questioned Ms Yahi. He said: “I have been taken to court in excess of 50 times for these proceedings and I would like to know, [do] you feel this has been money well spent?”

The question was ruled not relevant by the judge Tom Hughes QC. Coates was then unable to call a witness he had not cited.

When asked what he wanted to do, Coates said: “I’m up against it your honour, I’m afraid.”

The judge is to issue a decision in the case next month.