The Raging Bull star will portray the convicted fraudster, who is serving a 150-year prison term for stealing billions of dollars from people like John Malkovich, Kevin Bacon and Kyra Sedgwick, and ailing Zsa Zsa Gabor, in Wizard of Lies.

De Niro will also serve as executive producer alongside Barry Levinson, who has recently signed on to direct.

Pfeiffer is taking on the role of Madoff's wife, Ruth, while Alessandro Nivola will play his older son Mark, who committed suicide in 2010.

Wizard of Lies, which has been in development since 2011, isn't the only project about the convicted felon in the works - Richard Dreyfuss has been cast to play the con-artist in Madoff, alongside Blythe Danner as Ruth.