Professor Mike Adams has been convicted of a series of offences at the University of Edinburgh over his alleged role in the alleged heist of £1.5m from the Dean of Edinburgh.
The University’s chief executive, Peter Smith, said in a statement: “The Board of Governors of the University has accepted Professor Adams’s apology and unreservedly acknowledges the gravity of these offences.”
The Board takes the issue of institutional integrity very seriously and we are committed to holding the people of Edinburgh accountable for the actions of their leaders.
“The charges were brought by the Scottish Police.
The alleged heists took place between 2010 and 2015.
The Dean of Scotland, Mr Adamson, was cleared of all offences.
His successor, Professor Mark Smith, was found guilty of one count of misconduct in public office.
Professor Adams was the dean of the university’s College of Arts and Sciences when the alleged offences took place.
He is currently on bail pending a pre-sentence report.
He has been granted leave to appeal against his conviction.
Professor Smith, who has been the university president since 2010, will be given leave to defend himself against charges of misconduct.
He will be sentenced in September.
Prof Adams was one of six university officials involved in the heist.
He was found to have misused university funds by failing to declare a £3,000 loan from the Scottish Government, which he said he could not use.
A second bank loan from Scottish Enterprise, which was used to pay for the heists, was also reported to have been misused.
The heist was one part of a larger scheme that involved fraudsters stealing more than £1 million from the university.
Professor Adamson and three other officials were convicted of one charge of misconduct and two of fraud and misconduct in office.
The investigation was brought by a special team of Scotland Yard officers led by Detective Chief Inspector Michael Brown.
It was the largest fraud investigation in university history.