James Cox (“Wonderland”) is directing from a script he co-wrote with Captain Mauzner.
The project, produced by Holly Wiersma and Cassian Elwes, is being financed by Armory Films with its principals Tim Zajaros and Chris Lemole executive producing. Crystal Lourd, Jere Hausfater and Logan Levy will also executive produce.
Good Universe is launching international sales at the American Film Market.
Elgort will play financial genius Joe Hunt and Egerton will portray tennis pro Dean Karny. The film will follow the true story of the rise and fall of two outsiders, whose investment pool propelled them into the upper echelons of Los Angeles in the early 1980s.
With Hunt’s math skills and Karny’s connections to the powerful and privileged trust fund offspring, the duo convinced a clique of ex-classmates from the Harvard School for Boys to invest in the Billionaire Boys Club — leading to the duo becoming stars of the Los Angeles social scene. Their lavish lifestyle and impressive returns obscured a snowballing fraud with the Ponzi scheme beginning to collapse when an investment by Beverly Hills high-roller Ron Levin turned out to be worthless.
Hunt turned to murder to raise funds and was convicted in 1987 of the murder of Levin. Karny served as the state’s witness in the trial.
Elgort starred in the “Divergent” movies and “The Fault in Our Stars.” He’ll be seen next in “November Criminals” and is attached to “Baby Driver.”
Egerton starred in “Kingsman: The Secret Service.”
Cox directed 2003’s “Wonderland,” which centered on the four unsolved murders that took place in 1981 in Laurel Canyon in Los Angeles.