Published: Sep 14, 2011 7:48 PM EDT

LOUISVILLE, Ky. (AP) - An Australian investment banker who is wanted on charges of placing a fake bomb around a student's neck while attempting to extort money from her millionaire father is headed to his home country to face criminal charges.
    
Paul Douglas Peters appeared in U.S. District Court in Louisville on Wednesday and waived extradition.
    
The 50-year-old Peters, who traveled around the world in his work, was arrested at his ex-wife's house in a Louisville suburb last month.
    
Australian police said in court documents that Peters is accused of breaking into 18-year-old Madeleine Pulver's home on Aug. 3 and tethering the fake bomb to her neck as part of an elaborate extortion plot.

(Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)