The "Shades of Blue" star is developing the project with HBO, reported E! Online.
Blanco, known as 'The Cocaine Godmother' came to rise in the 1970s and 1980s and reportedly ordered up to 200 murders during her rule.
After DEA agents arrested at her home in California in 1985, she was sentenced to ten years in prison before being deported to Colombia in 2004. Eight years later, Blanco was killed after being shot twice in the head in a drive-by shooing in Medellin.
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