He met his first victim, a former Olympian, in 2000, by befriending the sportsman.
On December 19, 2008, the victim offered an investment proposal, but Goodburn countered with one of his own that was "bogus", Justice Matthew Downs said during sentencing.
"You told the victim you could purchase shares and options in an Australian media company at a reduced rate through your role as a general manager of a media collective in New Zealand."
The victim then made further payments "on the basis you would buy shares and options in an Australian company", the judge said.
"Instead, you used the money for your own purposes."
Goodburn met the second victim in about 2003, where he told him he could buy a large number of shares in a company you and he worked for, or had worked for.
"You told the victim it was a very good time to purchase shares," Justice Downs said.
"The victim took out a second mortgage on his home to fund a bank cheque for $300,000, which he gave you on 9 June 2006."
Goodburn met the third victim in early 2015, and formed a special relationship with the person.
"You told her you had bought $200,000 worth of shares in a particular company. This
was a lie," the judge said.
"You told the victim you were prepared to sell her $30,000 worth of these shares ... You used the money to fund, at least in part, the purchase of a European car."
Goodburn duped the fourth victim at the end of 2009, when he told her he could purchase shares in a company at a reduced rate. She transferred $10,000 to Goodburn's bank account.
The fifth victim had also entered into a relationship with Goodburn, and at the end of 2010 the fraudster told her he wanted to take the relationship to the "next level".
"You suggested you and she buy a house together," Justice Downs said.
"You said you had found one in Parnell. You asked her to pay an amount towards the deposit."
In November 2010 she gave Goodburn a cheque for $40,000 which she believed was to be used towards a deposit for the home.
She made further payments which she believed were going towards property.
Justice Downs said, "unsurprisingly" the victims "have suffered greatly".
"The first was your friend. He describes the impact of your offending as 'immense'. He feels 'violated'.
"You were motivated by greed. You defrauded the victims to fund a lavish lifestyle."
Much of Goodburn's offending was committed while he was on bail and serving sentences for other fraud charges. He also has a history of fraud in Australia where he has also spent time in prison.
When sentencing Goodburn, Justice Downs said reparation "is not realistic".
"You do not have a cent to your name."
Acting Detective Senior Sergeant Bridget Doell, of the Financial Crime Unit, said police were pleased Goodburn was eventually held to account for his actions.
"While it won't make up for his victims' loss it will prevent him causing harm to other people," she said.
"This was a particularly concerning case due to the fact he built relationships and gained the total trust of his victims whilst completely betraying them.
"My thoughts are, and continue to be, with the victims of his crimes. His actions have caused them a great deal of stress and hardship."
She said law enforcement agencies will eventually catch up with individuals like Goodburn who "prey on the trust and relationships they develop with the intention to defraud members of our community".
"It is also serves as a timely reminder to people to be careful who they trust with large sums of money. We would advise anyone who is thinking of investing money to do due diligence and seek advice from a reputable financial adviser first," Doell said.
