Anna Fontana was found guilty of fraud over $5,000 and theft by conversion.
The fraud involved a $150,000 loan from an elderly friend, Edda Marie Favretto-Post, intended for a restaurant but used for personal expenses and gambling.
Only $12,000 was repaid.
The Crown sought three years imprisonment and restitution, while the defence sought an 18-month conditional sentence.
The court imposed a conditional sentence of two years less a day, including nine months of house arrest, a restitution order of $150,000, and a fine in lieu of forfeiture of $150,000, with the expectation that the family residence might need to be sold to satisfy the restitution.
The court emphasized denunciation, deterrence, and reparation, noting the breach of friendship and the victim's vulnerability.