The film is inspired by true events about a family man who loses everything after he is betrayed by his partners, reported Deadline.
The picture will go on floors in New York City's Washington Heights at the end of the year.
Bandiero is producing the project with Al Bandiero.
Badalucco recently appeared in Warren Beatty's "Rules Don't Apply", while Castellucci just made his directorial debut with "The Brooklyn Banker".
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