Michael Richardson, of Magpie Way, swindled people out of money they believed was being invested in an F1 merchandise company.
Richardson, 56, pleaded guilty to 28 charges of deception against 10 individuals and numerous credit card companies, and was sentenced at Kingston Crown Court, Surrey, last Friday.
He promised victims massive returns if they invested in his non-existent business, which he claimed enjoyed an exclusive contract with the McLaren Formula One team.
In April 2002, Paul and Janet Sainsbury, who had given Richardson £68,000, called in police after he failed to repay their money.
Police discovered incriminating documents while raiding Richardson's home.
They confiscated his phone which other victims rang asking to see returns on their money.
Prosecutor Mark Wyeth said Richardson also faked his own death to get credit card companies to wipe out some of his debts.
Richardson told police he had a gambling addiction and claimed £80,000 to £100,000 of the money had been given to a business partner.
Defence lawyer Andrew Baker said Richardson's wife Christine was now initiating divorce proceedings.
He said: "One could only imagine the web of lies he has woven. His wife has not been to see him since he has been in prison."
He added Richardson had seen how much money could be made from selling merchandise after working on the Formula One circuit.
Judge Michael Binning said: "You would have to be very well off not to notice £41,000 or £68,000 (going missing) and these are the sorts of sums that can have a significant impact on the rest of people's lives."