Luke Moore said his millionaire lifestyle came from a lotto win, not because of a bank error.
By age 27, he had paid off his mortgage, bought luxury sports cars, a speedboat, jewellery and memorabilia.
But the Goulburn man but will not be able to enjoy any of them after the Sydney District Court sentenced him on Friday to a minimum two years and three months jail.
In February, a jury found Moore guilty of dishonestly obtaining financial advantage by deception and knowingly dealing with the proceeds of crime.
At the end of his two-year spree, from July 2010 to August 2012, Moore had taken 1,988,535.25 from his St George Bank "complete freedom" account, crown prosecutor Linda McSpedden told the court.
The money came from an uncontrolled overdraw facility, which the court found was the bank's fault.
During this time, the unemployed former bank teller bought a Maserati, an Alfa Romeo, an Aston Martin and a Stessl Seahawk speedboat.
But he did not just blow his cash on toys.
About $142,000 was paid off his mortgage, held by RAMS.
He told his family he had won the lotto.
Several items were sold in an attempt to recover stolen funds.
Judge Stephen Norrish estimated the bank was still out of pocket by about $676,000.
In sentencing Moore, he said the crown case was overwhelming while the defence was "almost laughable".
Its suggestion that Moore was waiting for the bank to contact him about his spending was not accepted.
"He would have realised that he had no authority to the sums that he withdrew," he said.
"He thought he could get away with anything and he almost did."
But Judge Norrish found Moore had good chances at rehabilitation.
His sentence was backdated to February 18, when he was first taken into custody after being on conditional bail before his trial.
The earliest he will be released from prison is May 2017.
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