Former investment advisor Dana Giacchetto appeared in a federal court on Thursday over charges filed by a friend, Reuters said in a report. Giacchetto is facing two counts of fraud for allegedly using a friend's credit card to buy liquor, plane ticket and food purchases, among others according to filings.

Giacchetto may not be on anyone's radar, but he is best known as the person who had conned Hollywood stars and reportedly inspired Leonardo Di Caprio in his performance for the Academy Award-nominated "The Wolf of Wall Street," Reuters said. Giacchetto once worked as an investment advisor to DiCaprio and several A-list celebrities like REM lead singer Michael Stipe. Giacchetto is said to have served a three-year jail term in the early 2000s for frauding from his famous clients millions of dollars' worth of investor money.

Emily White, who wrote Giacchetto's biography titled "You Will Make Money in Your Sleep", said the former investment advisor made friends with DiCaprio at the height of his career. The night of the 1998 Academy Awards, where his movie "Titanic" swept almost all of the major awards, DiCaprio was said to have slept over at Giacchetto's apartment.

White also detailed the connection of Giacchetto with the complainant, former New York City police officer Stephan Stanulis of Staten Island. White said that Stanulis had met Giacchetto at a New York bar, and later had a working relationship with the former investment advisor when he performed as a male stripper and did bouncer duties at Giachetto's lavish and celebrity-packed parties.

Stanulis claimed in his lawsuit that Giacchetto, who now owns a food business called Taste, made purchases using his American Express card. The purchases items were allegedly delivered to Giacchetto's apartment, which is also the listed business headquarters of the latter's business. Giacchetto reportedly used Stanulis' card for food, wine, dental work and a one-way ticket from Las Vegas to Newark.

Reuters said Giacchetto, surrendered to authorities and paid a $150,000. Ronald Fischetti, Giacchetto's attorney, said that his client has denied the charges filed by Stanulis.