He had called himself Frank Divido.
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It was under that name prosecutors said Frank John Fischetti, 54, befriended a printing shop owner and began to fabricate an image of wealth and business acumen, at one stage helped by a fake contract for a $3.19 million boat he scanned there.
The shop owner went on to transfer $195,000 in four transactions to bank accounts linked to Fischetti, who had been declared bankrupt, mostly for investment properties in NSW and Queensland which were never purchased.
Fischetti's deception caught up with him when he was arrested and found guilty of 11 fraud charges at the end of a nine week ACT Supreme Court jury trial earlier this year. He has since lodged an appeal against his convictions.
He had also tried unsuccessfully to secure a NAB loan for $1.4 million for a property in Nicholls using forged documents and a false name in 2014.
On Wednesday, Acting Justice David Robinson sentenced Fischetti to five years, nine months and 27 days in prison for his crimes, with a non-parole period of three years and three months.
He said Fischetti had "enthusiastically" conned the business owner into "implausible" investments and then soothed his concerns with more "untrue explanations" when the settlements didn't happen.
"Over time [he] believed or, more accurately, was induced to believe by the offender that the offender had substantial means and was a man of commerce, instead of an undischarged bankrupt in receipt of carer's benefits."
The man gave evidence at an earlier sentence hearing of the severe psychological impact the offences had on him, saying he'd undergone six months of counselling.
Acting Justice Robinson noted Fischetti's attempt to secure the loan had involved more players, planning and sophistication and had been "almost successful", with the bank giving conditional approval.
"It is clear on the evidence that the offender wished to acquire the Nicholls property as a home for his family.
"The acquisition followed an eviction by the ANZ of the family from a house at ... Gungahlin for a default on the mortgage."
It was only when police received a tip-off that the loan faltered at the last hurdle, the judge said.
In sentencing Fischetti, Acting Justice Robinson said he took into account the money involved, the degree of planning, Fischetti's motivation and the length of time in which the offences were committed.
"There was a degree of planning, co-ordination, comparative business sophistication, cultivation of persons and, of course, deception in the transactions."
He said Fischetti had twice been imprisoned for fraud and deception, noting he was still committing dishonesty offences of "significant magnitude" in his 50s. His criminal history meant he deserved little leniency, he said.
Fischetti had not expressed contrition or remorse and the judge could not find any great chance of rehabilitation, he said.
Acting Justice Robinson, who handed down his sentence via CCTV, said he was satisfied no penalty other than a term of imprisonment was appropriate.
Fischetti will be eligible for parole in August 2019.
