An Australian investment banker who attached a fake bomb to a schoolgirl has been jailed for 13 and a half years.

Paul Peters who is 52 strapped a device to the neck of the 18-year-old to try and extort money from her wealthy family.

It took experts 10 hours to remove the "bomb" which was later found to be an elaborate hoax.

Speaking outside court Madeleine Pulver told reporters she is relieved the legal process is over.

"For me it was never about the sentencing" she said.

"It was good to hear the judge acknowledge the truama he"s put my family and me through" she added.

Tracked to the US

The case sparked an international manhunt after the man broke into the luxury home of the family last August and strapped what he said was a bomb around her neck leaving a note demanding money.

Police in the United States arrested Mr. Peters in Kentucky about 2 weeks after the incident after he was tracked down through e-mail accounts.

Defence lawyers said Peters had suffered depression in the months before the attack and had no memory of his actions.

But prosecutors said Peters had planned to target a neighbour of the Pulver family but broke into the wrong house.