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."

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.