Kwai Fun Li, 45, who ran two King's Lodge Buffet outlets in Glasgow and Bishopbriggs, Dunbartonshire, had previously pled guilty to flouting immigration laws and was fined £6000 at Glasgow Sheriff Court.
She was caught following an operation led by Home Office Criminal and Financial Investigation officers and the Serious Organised Crime Agency, supported by police.
The conviction in 2011 paved the way for forensic accountants to examine Li's finances. They concluded she had benefited from her general criminal conduct to the sum of £1,064,094.
She has now been served with a confiscation order for £722,956.88 because she was unable to explain where the money had come from.
The order means all her assets, including jewellery, cash and property, will be seized.
Lesley Thomson, QC, the Solicitor General, said: "Kwai Fun Li was prosecuted on a summary complaint, pleaded guilty and was fined £6000. Little more than ten years ago, that would have been the end of the matter.
"However, the wide-ranging powers afforded to us by the Proceeds Of Crime Act 2002 mean such cases of 'criminal lifestyle' offending no longer conclude at conviction.
"Those convicted must now account for their unexplained income for a full six years before arrest, and their finances are scrutinised."
The money confiscated from Li includes more than £100,000 in Sterling, Hong Kong dollars and Singapore dollars, which was found in a safety deposit box and at her home in Bishopbriggs, along with jewellery and watches valued at more than £30,000.
More than £300,000 in bank accounts and interest in four properties will also be forfeited. The restaurant boss claimed much of the jewellery and cash was her mother's, but the court found she was neither credible nor reliable and the full order was made.
Tony Erne, director of criminal investigations for the Home Office, said: "The confiscation order issued in this case shows the seriousness of this crime.
"Not only did Kwai Fun Li knowingly try to flout immigration laws, she also preyed on vulnerable people desperate to remain in the UK illegally and she benefited from her criminal conduct to a significant degree."
The cash recovered by the confiscation order will be added to the £80 million already gathered from Proceeds Of Crime cases in Scotland. The money is distributed to projects through the CashBack For Communities Programme.