Sean Penn is considering taking on the lead role in 'Flim-Flam Man'.

The actor has reportedly approached director Alejandro Gonzalez Inarritu about working on the big screen adaptation of Jennifer Vogel's memoir 'Flim-Flam Man: The True Story of My Father's Counterfeit Life', according to Vulture.

The movie - which could be retitled 'Red Flag' - focuses on a career criminal who dabbled in arson, robbery, conspiracy to commit murder, and fraud before being arrested in one of the largest counterfeit bill seizures in US history in 1995. However, Vogel managed to escape custody after being arrested, leading to a six-month manhunt.

The book has been described as: ''A frank and intimate portrait of a charismatic, larger-than-life Underworld figure, as told by the daughter who nearly followed in his footsteps.''

Sean has previously worked with Alejandro on '21 Grams' and is keen to collaborate with the director again.

He was recently in talks to take on a supporting role in the filmmaker's 'Relevant', based on Michael Punke's historical novel, 'The Revenant' about bears which mauled 1820s fur trapper Hugh Glass but is thought to favour 'Flim-Flam Man' instead.