Actor-filmmaker Ben Affleck was a victim of one of the largest poker scandals, but reportedly his estimated loss was exaggerated.

According to a new report, Affleck was one of hundreds of players who lost money on a website called Ultimate Bet during their cheating scandal in 2003.

One of the site's former owners claims that Affleck lost close to half a million dollars, but the actor's sources say "that is nowhere near the case".

The Internet ploy worked like this: One of the owners of the website played in high stakes games and used the ability to see other players' cards to help him win. Millions of dollars were refunded to players as a result.

The actor did lose some money, but it was refunded since it was won through cheating.

The 40-year old actor and director is currently a Hollywood darling, having nabbed the Oscar for Best Film for Argo at the 85th Annual Academy Awards earlier this year.

Affleck, hoping to recreate the positive response he received from his last directorial effort, has signed on to direct an adaptation of the Dennis Lehane novel Live By Night.

Affleck will also write, produce and star in the film. This is Affleck's second time working with Lehane, who also wrote the book Gone Baby Gone that was later adapted into a movie and was Affleck's directorial debut.

The novel follows a police captain's son who becomes deeply involved in organized crime. It is a period piece, with the novel starting off in the mid-1920s. The film will likely bring Affleck to Boston, as the setting of the novel travels from Boston to Florida and Cuba.

Pre-production for the film started recently, and production is expected to begin August or September of this year. No other cast members have reportedly been confirmed yet. Appian Way will produce the film with Affleck and Matt Damon's production company, Pearl Street.