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Defamation: 'Wolf of Wall Street' character sues producers for $25m

A former stockbroker depicted in the Martin Scorsese movie 'Wolf of Wall Street' has announced he is to sue the film's producers Paramount Pictures and Red Granite Productions, over the way he has been portrayed in the film, reports the BBC.

Andrew Greene, a former associate of title character Jordan Belfort, is suing the production companies of the Wolf of Wall Street film, after claiming the way he is portrayed in the film amounts to a defamation of his character.

The Wolf of Wall Street film tells the life story of Jordan Belfort, the Jewish son of accountants born in the Bronx, who went on to found one of America's largest 'over-the-counter' stock brokerage companies.

During a lavish period in the late 1980s and early 1990s, the firm, Stratton Oakmont, defrauded thousands of Americans out of hundreds of millions of dollars using 'boiler room' tactics of unfair and dishonest sales strategies.

The film portrays Mr Belmont's close friends, who were all recruited into the venture. One of the leading characters is Nicky 'Rugrat' Koskoff, who is a good friend of Belmont's, and is involved in many of the films scenes of legendary excess involving alcohol, drugs including cocaine and qualuudes, and sex with prostitutes.

Andrew Greene is claiming the 'Koskoff' character is based on himself, albeit that the production team changes his nickname.

According to Mr Greene's legal papers, he is claiming that his portrayal in the film was libelous, and has permanently damaged his image.

"The motion picture contains various scenes wherein Mr Greene's character is portrayed as a criminal, drug user, degenerate, depraved, and/or devoid of any morality or ethics," the court papers, published by the Hollywood Reporter, read.

The Wolf of Wall Street is nominated for five Academy Awards in this year's Oscars ceremony.