Wiseman is also producing the story of a detective faced with a devastating moral dilemma while investigating the black market trade in immortality. Wiseman and Chris Morgan wrote the screenplay from an original draft by Justin Bondi and Andrew Ludington.
Sony holds domestic rights and an unspecified number of international rights. Lakeshore's Tom Rosenberg, Gary Lucchesi and Skip Williamson are also producing.
Wiseman is currently producing the third Underworld instalment Underworld: Rise Of The Lycans, which is currently shooting in New Zealand and stars Michael Sheen, Bill Nighy and Rhona Mitra.
The film-maker said Shell Game had been a passion of his 'for over five years, and is a very ambitious feature both creatively and logistically so I am delighted to be teaming up again with my friends at Lakeshore and Sony.'
'From our first meeting with Len on Underworld, it was obvious that he had great talent and a unique artistic vision,' Rosenberg said. 'We are very excited about collaborating with him again and bringing more of his extraordinary and original work to audiences worldwide.'
Wiseman is represented by Nick Reed at ICM.
Lakeshore is currently in pre-production on the romantic comedy The Ugly Truth starring Katherine Heigl and Gerard Butler and Crank: High Voltage starring Jason Statham. Production is set to begin in April on both projects.