Martin Scorsese and Leonardo DiCaprio team up for fifth movie

After working together on Gangs of New York, The Aviator, The Departed and Shutter Island, Academy award-winning director Martin Scorsese and Hollywood actor Leonardo DiCaprio are set to team up once again for The Wolf of Wall Street, based on the memoir by white collar criminal Jordan Belfort, reports Vulture.

Ridley Scott was originally signed to direct the film adaptation, however the project has returned to Scorcese, who has been involved with the film for almost four years.

Belfort is a former white collar criminal notorious for stock market manipulation in the 1980s and ’90s, and his hard-partying lifestyle including a serious drug addiction. He was indicted in 1998 for securities fraud and money laundering, which resulted in investor losses of approximately $200 million, and served 22 months in federal prison.

In the meantime, Scorsese is putting the finishing touches on his first 3-D film Hugo Cabret starring Ben Kingsley, Jude Law and Sacha Baron Cohen, which is due in theaters on December 9. The film is an adaptation of Brian Selznick’s best-selling children’s book The Invention of Hugo Cabret, which tells the tale of an orphan boy living a secret life in the walls of a Paris train station.

DiCaprio is currently filming Clint Eastwood’s biopic J. Edgar, which will be released in 2012. Upcoming projects include the title role in Oliver Stone’s Travis McGee, and Baz Lurhmann’s The Great Gatsby.