Leonardo DiCaprio is poised to make his fifth collaboration with director Martin Scorsese on the white-collar crime drama The Wolf of Wall Street, based on the bestselling memoir by Jordan Belfort. The pair previously worked together on Gangs of New York, The Aviator, The Departed and last year's Shutter Island.

The Wolf of Wall Street charts the rise and fall of a drug-addicted millionaire broker in the 80s and 90s. It is based on the life story of Belfort, who founded the notorious brokerage firm Stratton Oakmont, selling dodgy stocks to gullible small-time investors. Belfort was eventually convicted for manipulating the stock market and served 22 months in a federal jail. His experiences also provided the basis for the 2000 drama Boiler Room, starring Giovanni Ribisi and Ben Affleck.

According the NYmag.com, the film version was originally based at Warner Bros with Ridley Scott due to direct. It will now be bankrolled as an independent production, with Scorsese in the director's chair and DiCaprio starring as Belfont. Shooting is scheduled for June 2012.

Scorsese, 68, is currently in postproduction on his Paris-set fable Hugo Cabret and is then due to direct Silence, the tale of a Jesuit missionary in 17th-century Japan, based on the 1966 novel by Shusaku Endo. DiCaprio will next be seen as J Edgar Hoover in Clint Eastwood's biopic of the FBI director, J Edgar.