Brian “The Hawk” Martin, 58, and Christopher McMultan, 40, forced their way into Sarah Gloag’s Perthshire home, threatening her and husband Sundeep with knives.
The High Court in Edinburgh heard how the pair tied the couple up with masking tape before making off with jewels and cash.
Hairdresser Sarah’s mother Ann Gloag - who made millions from her Stagecoach bus empire - phoned police.
On Thursday, a jury returned guilty verdicts against McMultan who spent a week denying robbing Sarah and another couple in Perthshire the previous day last January.
His partner in crime Martin, who has more than 50 convictions in a criminal career dating back to 1976, pleaded guilty to the robberies after hearing Ms Gloag give evidence.
Martin’s record includes convictions for firearms offences and assault and robbery.
Temporary judge Paul Arthurson QC handed McMultan, a prisoner of HMP Perth, a 12-year sentence. Meanwhile, the Hawk - who wrote the judge a letter saying that he now knew that he had wasted his entire life - was given a 14-year sentence.
Passing sentence, judge Arthurson told Martin: “It is clear that you are a highly dangerous and violent criminal. It is the duty of the court to impose a lengthy custodial sentence.”
Advocate depute Paul Brown - who had earlier dropped a charge that McMultan drove a car at an armed policeman the day after the Gloag raid - said: “The evidence is overwhelming. The defence case is at best speculative. At worst, it is nonsense and an insult to your intelligence.”
Following the verdict, Mr Brown read the details of a legal document, on which the prosecution and defence agreed, detailing Martin and McMultan’s involvement in the raids.
Mr Brown said that Martin and McMultan committed the first raid targeting a Miss Miles and Mr Gilfoyle at 5.15pm on January 18 2015.
He told the court that the following night, the pair forced their way into Sarah Gloag’s house in Perthshire and bound the couple before robbing them. The court heard how the two men left the property with £4,000 cash and £200,000 of jewellery.
Ms Gloag told the court that she and her husband were able to free themselves and that her mother Ann phoned the police after she rang the house about another matter.
Martin’s counsel submitted a letter in which he wrote: “I will now look back at my life and I will realise that I have wasted it.”