A debt-ridden student blew $1.3 million on sports cars, speedboats, strippers and cocaine after a bank error gave him an unlimited overdraft.

Wannabe playboy Luke Moore lived the high life for two years before he was caught by cops and jailed on fraud charges.

The Australian treated himself to luxury holidays, an Aston Martin, a Maserati and a boat while living the ultimate bachelor lifestyle.

But he was slapped with a four-year jail term last year after the banking glitch came to light.

Moore, 29, went free last week after winning an appeal of his conviction on the grounds that his actions were not deceptive.

He is now broke and living with his mother in Goulburn, New South Wales, ironically while studying to become a criminal lawyer.

But he told the Daily Telegraph he did not miss his multimillionaire lifestyle “besides the cocaine, the strippers and fast cars.”

He said he is “still readjusting to real life” and would no longer want to drive around in flashy cars.

The law student bagged the free cash after opening a Complete Freedom account with St. George bank in March 2010.

A computer error meant he was allowed to overdraw the account and spend a total of $1.5 million (AU $2.1 million).

But instead of telling the bank, he made increasingly large withdrawals and transferred the funds into multiple accounts.

As well as buying a framed Michael Jordan shirt, the student used the cash to pay mortgage, insurance and other bills.

This isn’t the first time rich kids’ showy antics have backfired: