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OTRC: Robert De Niro to portray Bernie Madoff in HBO film

Robert De Niro appears in a still from from 'Stone.' / In this Jan. 14, 2009 file photo, Bernard L. Madoff leaves Federal Court in New York. (Overture Films / AP / Stuart Ramson, file)

Robert De Niro has signed on to portray disgraced financier Bernard Madoff in a film for HBO, the network confirmed to OnTheRedCarpet.com on Monday.

The film, which is currently in development, is based in part on a book by New York Times senior financial writer Diana B. Henriques, entitled "The Wizard of Lies: Bernie Madoff and the Death of Trust."

According to the New York Times, the producers also acquired the rights to use the book "Truth and Consequences: Life Inside the Madoff Family," which was written by Laurie Sandell with the cooperation of Madoff's son Andrew.

De Niro and Jane Rosenthal of Tribeca Productions have signed on as executive producers for the made-for-television movie. "Reservation Road" novelist and screenwriter John Burnham Schwartz is working on the screenplay.

Madoff attracted thousands of investors with his Ponzi scheme, where he didn't make investments, but used money he received from new investors to pay previous ones. The Wall Street Scammer's wife Ruth recently revealed on CBS' "60 Minutes" that she and Bernard tried to kill themselves after he confessed.

In 2009, Madoff, 73, pleaded guilty for fraud and began serving a 150-year prison sentence for running the estimated $20 billion dollar scam, which marks the biggest investment fraud in U.S. history.

Larry King recently revealed that he had been a victim of Madoff's Ponzi scheme, but had gotten back his $700,000 investment from the Madoff estate and from the government.

Kevin Bacon and his actress-wife Kyra Sedgwick were among the scores of customers who were swindled. Though he wouldn't specify the amount of money he invested, Bacon said that he had lost "years and years" of work from the scandal.

De Niro, who is best known for his roles in "Goodfellas" and "Taxi Driver," most recently starred in the Bradley Cooper movie "Limitless" and the Ben Stiller comedy "Little Fockers."

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