Martin Scorsese
The director smiles during the 10th Marrakesh Film Festival, but now reported to have over $2-million back taxes. Reuters

Leonardo DiCaprio and Martin Scorsese are planning another film together. They will collaborate on The Wolf of Wall Street, an adaptation of Jordan Belfort’s memoirs.

This will be their fifth film together.The Wolf on Wall Street is about Belfort’s rise and downfall on Wall street. It portrays his multi-millionaire lifestyle embracing booze, drug and sex fueled by client money and chronicles how the FBI finally catches up with him.

After almost four years in development, I can’t begin to tell you how thrilled I am to finally be working with Leo and Marty on this, said Belfort, who's now sober. They’re the ultimate Dream Team, and it was definitely worth the wait,” he added, according to The Hollywood Reporter.

Alexander Milchan, Dicaprio’s Appian Way and Martin Scorsese are co-producing the film. Writer Terry Winter of Sopranos fame has written the script.

According to Vulture, Warner Bros. was earlier planning to produce the film with Ridley Scott as the director, but they passed on the project.

In 2007, Scorsese had shown interest in making the movie starring Dicaprio but nothing came of it and they both worked together on Shutter Island instead, reports .

Scorsese, presently, is busy finishing Hugo Cabret. After this, he will begin work on the adaptation of Shusaku Endo’s novel, Silence, for Warner Bros. He will be free to take up the Wall Street project only after that.

Scorsese and DiCaprio have previously worked together on Gangs Of New York, The Aviator, The Departed and Shutter Island.