Michael Chiklis is returning to F/X with a new timely TV project. According to The Hollywood Reporter, Chiklis is developing the new series House of Cards for the network.

The series will revolve around a group that pulls off a scam similar to the Bernard Madoff scandal that has been making headlines lately. Although Chiklis wasn't personally affected by that scandal, the series is inspired by a similar Ponzi scheme that he and his wife were victims of.

"It really rocked our world," Chiklis said. "Not so much from a monetary standpoint -- it didn't significantly hurt us -- it was more the feeling of being betrayed and the ripple effect it caused."

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Chiklis has been developing this idea since February and The Shield actor plans to executive produce the series, but not star in it. The network hopes to name a showrunner in the near future.

No production schedule was announced for the new series.