Brazen Theft on the Canals of Venice

Armed robbers made off with $1.7 million that was supposed to pay pension of elderly venetians.
2:03 | 07/02/13

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Transcript for Brazen Theft on the Canals of Venice
This one, armed bandits, hijacking a boat, making off with $1.5 million. Nick watt has more on this made for the movies caper. Reporter: The 1,600-year-old city of venice has never seen anything like it. Apart from "the italian job." But that was a movie. This brazen heist played out on those same, beautiful canals. 7:00 a.M. Monday morning, armed men on a vessel pulled up to a small boat just loaded with three boxes of money. One robber pulls out aifle, telling a security guard that a robbery is under way. A masked accomplice who was hiding under a tarp, jumps onboard the money boat and opens all three cases. Grabs the two cases of the bank notes and puts them on the speedboat. Leaving behind one case full of coins. The men disappeared with $1.7 million in cash that was supposed to pay the pensions of elderly venetians. Robbers do watch movies. And they do get ideas about how to do things. Reporter: Just last week, in a "goodfellas"-esque, escapade, money disappeared from a cargo container. And one that will inspire a movie, this high-stakes smash and grab in a london mall last november. Motorcycle bandits disappeared with 3 million bucks worth of rolex and cartier watches. They're still on the run. And late last night, smash and grab thieves stole $500,000 worth of jewelry from the borgata hotel and casino in new jersey. A lot of times they spend the money in a fashion to get caught. Reporter: Back in venice, the cops are still scratching their heads. Those robbers left no trace, or a tire mark. And they're not robbers, they're tes. For "good morning america," nick

This transcript has been automatically generated and may not be 100% accurate.

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