Continuing their fruitful collaborative streak, Leonardo DiCaprio and director Martin Scorsese are teaming up again for the timely drama "The Wolf of Wall Street."

The film is a true story based on the life of stockbroker Jordan Belfort, who was arrested in the late '90s for security fraud and money laundering. He went to prison for nearly two years.

According to Deadline.com, Terence Winter ("The Sopranos," "Boardwalk Empire") is writing the screenplay. "Wolf" will start production in NY this August.

It's Scorsese and DiCaprio's fifth film together, following "The Aviator," "Gangs of New York," "The Departed" and "Shutter Island."

In a similar fashion, Scorsese was once inextricably linked to Robert De Niro. Together, they made eight films, including classics such as "Mean Streets," "Taxi Driver," "Raging Bull" and "Goodfellas."

Scorsese was recently nominated for an Oscar for his film "Hugo."

DiCaprio was recently seen in Clint Eastwood's "J. Edgar," and will soon live again as Jack Dawson in the 3D re-release of James Cameron's 1997 "Titanic." He'll also star opposite Tobey Maguire and Carey MUlligan in Baz Luhrmann's 3D take on "The Great Gatsby."