A man who was unemployed and getting Centrelink payments was able to splash out more than $2 million on luxury cars, a boat and celebrity memorabilia due to a banking loophole. Luke Brett Moore was found guilty of knowingly dealing with proceeds of crime and dishonestly obtaining financial advantage by deception in Goulburn District Court. Opening a freedom saving account with St George Bank in 2010, Moore was able to overdraw $2.189 million over three years, The Courier Mail reported. NSW Police found Luke Brett Moore's haul after raiding his house back in December 2012 . The 27-year-old Goulburn man was able to overdraw $2.189 million over three years from his St George Bank . Luke Brett Moore, 27, managed to live a life of excess despite being on social security because of a bank fault . He dipped into the account 48 times and spent the money on a number of expensive items. Moore's luxury haul included a Maserati, an Alfa Romeo, a power boat, a Michael Jackson autograph, a signed photograph of the Top Gear hosts and numerous paintings. To avoid being caught, the 27-year-old moved the funds to PayPal and National Australia Bank accounts. While Moore was spending up big, he was also receiving Centrelink payments between March and July in 2010, according to Fairfax Media. Police seized a red Alfa Romeo. Moore was receiving Centrelink payments while he was overdrawing his account . To conceal his exploits, Moore moved the money into his PayPal account as well as into his National Australia Bank account . A framed Michael Jackson autograph with the late singer's photo and music CD was found in Moore's West Goulburn home . This is signed photograph of Top Gear hosts Jeremy Clarkson, James May and Richard Hammond . It has been more than two years since New South Wales police raided his West Goulburn home on December 12, 2012. There officers seized hundreds-of-thousands of dollars that the prosecutors said were funded by his exploits. Moore was soon charged but it took more than 26 months for him to be finally found guilty of the two offences. When the jury delivered their verdict, a family member who had come to support the 27-year-old broke down and had to be escorted from the court room. Sports memorabilia, including this Chicago Bulls jersey signed by former basketballer Michael Jordan, was also found in Moore's home . A power boat was also found among his luxury haul. Moore will be sentenced on Friday in a Sydney court . Moore was taken into custody on February 19 this year after he had been allowed out on bail . He was found guilty of knowingly dealing with proceeds of crime and dishonestly obtaining financial advantage by deception . Moore was taken into custody after he had been allowed out on bail. He is set to be sentenced in Sydney's Downing Centre District Court on Friday. Daily Mail Australia has contacted St George Bank for a comment on the matter. A bank spokeswoman told News Corp that incidents like Moore's were rare and happened due to a 'human error'. She said the bank was taking steps to recover the money. While Moore was spending up big, he was also receiving Centrelink payments between March and July in 2010 . Officers seized hundreds-of-thousands of dollars that the prosecutors said were funded by his exploits . Moore was soon charged after the 2012 raid, but it took more than 26 months for him to be finally found guilty of the two offences . When the jury delivered Moore's verdict, a family member who had come to support the 27-year-old broke down and had to be escorted from the court room .
Luke Brett Moore overdrew $2 million he did not have from a bank account . The Goulburn man was found guilty of exploiting the loophole in February . He spent money on buying a Maserati, an Alfa Romeo and a power boat . Police raided his home in December 2012 and he will be sentenced Friday .