Goodfellas producer Irwin Winkler is suing Warner Bros for $18m as he claims studio 'cheated him out of profits on the hit 1990 mob film'

Published: 19:55 EST, 22 September 2015 | Updated: 20:43 EST, 22 September 2015

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The producer of Goodfellas is charging Warner Bros. with duping him out of his share of the profits from the 1990 classic film.

The Hollywood Reporter said Tuesday Irwin Winkler has filed suit in Los Angeles alleging he was cheated out of profits related to home video income after the studio declared a financial loss on Martin Scorsese's masterpiece.

'This was "studio accounting" on steroids. It was also fraud,' Winkler's complaint alleges.

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Cheated:Goodfellas producer Irwin Winkler has filed suit against Warner Bros. accusing the studio of concealing from him tens of millions of dollars in home video revenues generated worldwide by the 1990 film

Lawsuit: Winkler, 84, who also produced Rocky and Raging Bull, claims he's entitled to 50 percent of the movie's net profits and is seeking at least $18 million in damages from the studio

The producer goes on to claim that 'what Warner Bros. represented as the receipts of Goodfellas were really only a fraction of the actual receipts. Warner Bros. concealed more than $140 million of its actual receipts.'

The veteran producer who's 84 says he is entitled to 50 percent of net profits and is seeking at least $18 million in damages for breach of contract or fraud, according to THR.com.

A spokesperson for Warner Bros. told the trade publication: 'The allegations are baseless and we will vigorously defend.'

Iconic: Goodfellas was directed by Martin Scorsese, pictured at the film's Los Angeles premiere on September 17, 1990, with two of his stars, Ray Liotta, left, and Paul Sorvino, right

The mob film earned six Academy Award nominations including Best Picture and won Joe Pesci, seen here with Ray Liotta in a scene from the movie, a Best Supporting Actor Oscar

Goodfellas, that starred Robert De Niro, Ray Liotta, Paul Sorvino and Joe Pesci, took 10 years and $30 million to make and took in $275 million at the box office.

It garnered six Oscar nominations and won Pesci the Best Supporting Actor Academy Award.

Winkler has a roster of hit movies under his belt serving as producer on Sylvester Stallone's Rocky franchise, De Niro's Raging Bull, Leonardo DiCaprio's The Wolf Of Wall Street and Scorsese's yet-to-be released movie Silence starring Liam Neeson and Andrew Garfield.

Earnings: The veteran producer alleged he didn't find out just how much money Goodfellas made until last year when an account challenged Warner Bros. over its financial reporting. He wants $18 million from the studio

The legal documents filed by Winkler's attorneys offer an insight into how Warner Bros. calculated its return on Goodfellas.

The complaint states that the studio charged $40 million of interest on its $30 million cost of production and that in 2009 it reported total domestic and foreign video receipts at $32 million when, in fact, they totaled $128 million.

Winkler's attorney Bert Fields said his client didn't uncover the true figures until 2014.

Th lawsuit also alleges that Warner Bros. 'deliberately' hid the true profits from the film's home video release and did not report them.

Last year, the studio 'finally disclos[ed] to plaintiffs that only '30%' of its home video revenue was being reported.......a critical fact that Warner knew it could have and should have disclosed in every one of its prior reports, but elected instead to conceal,' the complaint said.

Ironic: Coincidentally, Winkler's lawsuit comes as fans mark the 25th anniversary of the release of Goodfellas that was based on the non-fiction book Wiseguy by Nicholas Pileggi. It's widely considered to be one of the greatest films of all time