Greene has filed a defamation suit against Paramount Pictures and director Martin Scorsese and had asked the film to be removed from the theaters, reported Ace Showbiz.
The former stock broker has seeked a compensation of 25 million USD against the portryal of a toupee-wearing character Nicky Rugrat Koskoff in the hedonistic black comedy.
Greene has claimed that the character nicknamed 'Wigman' is based on his life as he often wears a hairpiece like Rugrat.
'The Wolf of Wall Street' is a film based on American motivational speaker and former stock broker Jordan Ross Belfort's 2007 memoir. The film is nominated for five Academy Awards this year, including Best Director, Best Actor and Best Picture.
Leonard DiCaprio plays the protagonist in the film and is supported by Jonah Hill, Margot Robbie and Matthew McConaughey.