Two directors of the defunct stock broking firm Opes Prime have been jailed following the company's multi-million-dollar collapse.

Opes Prime Stockbroking Limited collapsed in 2008 owing more than $600 million to creditors.

Part of the company's downfall involved the use of borrowed stocks to prop up multi-million-dollar accounts.

Laurie Emini admitted he used his position as founding director to gain financial advantage and was reckless in using his power.

Today in the Victorian Supreme Court he was sentenced to serve two years in jail.

He will be released on a good behaviour bond after 12 months.

His co-director, Anthony Blumberg, also pleaded guilty to using his position for financial gain and will serve six months' jail before being released on a $5,000 good behaviour bond.

The judge said it was difficult to calculate the loss to creditors caused by their actions.

Emini and Blumberg have agreed to give evidence against their co-accused.