The film is being directed by Todd Phillips, who helmed The Hangover trilogy. Phillips co-wrote the screenplay for Arms & the Dudes with Jason Smilovic and Stephen C. Chin.
Based on a true story, the movie "follows two friends in their early '20s, living in Miami during the Iraq War, who exploit a little-known government initiative that allows small businesses to bid on U.S. Military contracts," a synopsis said.
"Starting small, they begin raking in big money and are living the high life. But the pair gets in over their heads when they land a $300 million deal to arm the Afghan Military -- a deal that puts them in business with some very shady people, not the least of which turns out to be the U.S. Government."
Scenes will also be shot in Las Vegas, Southern California, Miami and Morocco.