The heist, later featured in the film GoodFellas, was among the largest in American history.
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The critically-acclaimed film has been dubbed the Brazilian Goodfellas because of its gritty intensity and violence.
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There have been plenty of offshoots of the "Goodfellas" franchise, including other books and documentaries about Hill, who died after suffering problems with his heart in 2012.
"A lot of the people in 'Goodfellas' are not on the upper levels, so they're not tragic, " Scorsese said.
Henry Hill, the gangster who was the inspiration for the 1990 film "Goodfellas, " opted out of the witness protection program, as did mob turncoat Sammy "the Bull" Gravano.
"Joe Pesci always said I'd end up with my feet in cement - I don't think this is what he had in mind, " the actor joked, referring to his co-star in the mob movie Goodfellas.
It's like walking into a scene from Goodfellas - the crowd seated at candlelit tables, suited-up waiting staff distributing Old Fashioneds, the band on stage playing whipsmart swing and jazz.
In the 2011 book "Conversations with Scorsese" by Richard Schickel, the legendary filmmaker talked about his affection for the characters in "Goodfellas, " many of whom were just like people he knew growing up.
Mr Lip, born Frank Anthony Vallelonga, made his film debut as a wedding guest in The Godfather and later appeared in successful gangster titles Goodfellas, Raging Bull and Donnie Brasco.
Pete Daly, of distributors Pathe, says Essex Boys is a film noir, with elements of Goodfellas, but in this case instead of the gangsters moving out from New York City to suburban New Jersey, the villains have relocated from the East End to its Essex hinterland.
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