Chiklis developing Ponzi scheme TV series

In the wake of Bernard Madoff scandal, former "The Shield" star Michael Chiklis is developing a new series at FX about a similar investment scheme.

The project, called "House of Cards," concerns a group committing an elaborate scam similar to the alleged Madoff fraud.

Chiklis has been developing the project since February after he and his wife became victims of a Ponzi scheme themselves.

"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."

The Madoff case has had a strong impact in Hollywood, with top names such as Steven Spielberg and Jeffrey Katzenberg among those rumored to have been swindled.

"Cards" will likely center on the leader of investment scheme, with Chiklis planning to executive produce, but not star. FX expects to attach a showrunner to the project shortly.

In a Ponzi scheme, a few early participants gain considerable wealth through the investment of later contributors rather than earned profits from a product or business. For Chicklis, the actor's monetary loss was compounded by his regret of convincing friends to invest too.

"That was the worst part of it," he said. "It's one thing when you lose your own money, but here you lose your friends money while your true-hearts-hope was to make them money."

At first the concept might seem a bit limiting for a series -- how many seasons can you stretch out the story of a scam? Chicklis countered that his case has been going on for five years and still isn't entirely resolved.

"There's quite a lot that goes on during the course of this thing," Chicklis said. "It destroys relationships and marriages, it's intense."

Comments

[Emdii]

To be quite honest, you have to really be pretty damned stupid to take part in a Ponzi scheme. They aren't exactly difficult to spot. If the money making scheme is supposedly turning an exhorbant profit while lacking a realistic product to actually make the money with, it's a Ponzi scheme. Also, a charismatic "first investor" is a dead give away.

[Anonymous]

Another dead giveaway to a Ponzi scheme is if the guy is named Rockefeller and he has a heavy French accent.

[carol]

A ponzi scheme works for two reasons. Greed and the old saying regarding, "if it looks too good to be true, it probably is."

With the scheme so much in the news now, my pity of for all the charities that lost all their money. All the foundations that had to close their doors.

[Tao - board games Canada]

Well, I've seen smart people get drawn into just 'cause they are willing to believe. It's not the easiest thing to spot all the time.

[Bob]

The Fantastic Four was not a Ponzi scheme.. sure it hurt people, stole some people's hard earned money, and ruined some marriages.. but I wouldn't call it a Ponzi scheme.

[Anonymous]

Oh I forgot to mention before this is much worse than a Fonzi scheme, which to date has only affected Pinky Tuscadero adversely.

[Adrian Vance]

Very limiting idea. It would be far better to do, "The Ponzi Squad" of international cops dealing with these people that send all the "You won," or "were left" $12,000,000 and only need to send us $400 to get it," and on up the scale to the really big ones that sell non-existent ships, bridges, etc. Clearly, this guy does not know the business or story crafting.

[ImWithStupid]

Same thing happening right now with the 5-Links Ponzi Scam. They even carry you in a chair on their backs to the stage based on how many people you scam.

[treehood]

A show about a group of ponzi con men that rip off rich stupid fat cats that think they are getting one better than the "undeserving little people". Yeah, I'd watch that. Look at Madoff's "victims", not a poor person among them, only people that think they deserve more than you or I. Personally, I would rather keep my money in institutons that would never fail, Like WaMu, Downey S&L, Leman Bros.,IndyMac, Cal. St. bonds, The US Govt.

[Jitney]

Why not do a series on the biggest Ponzi scheme of all, Social Security, complete with lying, vote buying politicians, back-room deals, and the not-too-distant future crash? Now THAT would be reality TV.-Jitney