The pair will join Jason Bateman and Melissa McCarthy in the Universal film directed by Seth Gordon, says The Hollywood Reporter.
The film follows a timid family man (Bateman) who finds out that his identity is stolen by a down-and-out woman (McCarthy).
Harold and Kumar actor Cho will play an investment executive starting his own firm who tries to hire Bateman's character.
Hot Tub Time Machine's Duke will appear as an Eagle Scout who embarks on a revenge mission after he is also burgled.
Amanda Peet has also reportedly agreed a deal to star in the film, to be produced by Scott Stuber and Pamela Abdy.
John Cho recently praised the rise of Asian-American actors appearing in US TV and film.
He will next be seen in the upcoming Total Recall remake, out on August 3 in the US and August 22 in the UK.
Watch John Cho in the trailer for Total Recall below: