Nicole Sperling
June 07, 2010 AT 11:35 PM EDT

Screenwriters Boaz Yakin and Edward Ricourt have sold their spec script Now You See Me to Summit Entertainment. The film tracks a crack FBI squad in a game of cat and mouse against a team of the world’s greatest illusionists, who pull off a series of daring bank heists while staying one step ahead of the law. Yakin co-wrote Prince of Persia: The Sands of Time while Ricourt has a script in development.

Star Trek writers and executive producers Alex Kurtzman and Bob Orci will produce through their Paper Products production banner. Their current film Cowboys and Aliens starring Daniel Craig will bow in July 2011.

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