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Banker jailed over bizarre collar bomb extortion plot

AN Australian investment banker who admitted chaining a fake bomb to a Sydney teenager as part of a bizarre extortion plot has been jailed for 13 years and six months.

Madeleine Pulver, then 18, was studying at home alone in her family's mansion in August 2011 when Paul Douglas Peters walked in wearing a ski mask and carrying a baseball bat. He tethered a bomb-like device to her neck along with a ransom note and then slipped away, leaving the panicked teen alone. It took a bomb squad 10 hours to remove the device, which contained no explosives.

Peters (52) failed to convince the judge that his crime was the result of a psychological meltdown. Instead, New South Wales state District Court Judge Peter Zahra said, the businessman had shown no remorse, lied to police and was motivated by money.

After attaching the device to the teen, Peters fled to the US, but police used an email address on the ransom note to track him down. Authorities arrested him two weeks later at his ex-wife's home in Louisville, Kentucky. He pleaded guilty to aggravated breaking and entering and committing a serious indictable offense.