In what sounds sort of like Catch Me If You Can redux, The Hollywood Reporter posts that Art's life will be brought to the screen in The Art of Making Money, with Philip Noyce slated to direct after he finishes his Scarlett Johanson-led Mary Queen of Scots project. First-timer Frank Baldwin will write the screenplay from the Rolling Stone article (which will itself soon become a book). It sounds like a return to the good old mainstream days of Clear and Present Danger and The Bone Collector for Noyce, and a departure from his recent arthouse stylings (which included the absolutely sensational Rabbit-Proof Fence).
Weirdly, I can't google up anything on the real guy behind this story -- aside from the Rolling Stone article, he may as well not exist. Not having his real name doesn't help, but I'd have thought something would have turned up. I'll keep trying.