Son allegedly killed hedge fund father over $200 allowance cut

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NEW YORK (PIX11) -- A 30-year-old man has been charged with killing his hedge fund father after police sources say his allowance had been cut.

Thomas Gilbert Sr., 70, was shot in the head in his apartment at 20 Beekman Place on the East Side on Sunday, according to NYPD. He was pronounced dead at the scene.

His son, 30-year-old Thomas Gilbert Jr., was charged Monday in his murder. He was also charged with criminal possession of a weapon.

(CNN)

(CNN)

The son was not on the scene when police arrived, but was found at his Chelsea apartment on West 18th Street after cops in riot gear chopped down the door of his ground floor apartment and found him hiding inside.

He was taken into custody and charged after hours of questioning.

A police source says a possible motive for the murder is the allowance cut.

"He was getting $3,000 a month and it was being cut to $2,800 a month," according to the police source.

He was a troubled young man with a troubled past, according to family friends who knew Thomas Gilbert Jr.

Gilbert was a 2009 Princeton grad, but his Facebook page makes no mention of any job.

A family friend said, "the mother and father were just the nicest people, really good people. Clearly, their son had serious mental illness. There were stories about strange things that he had been doing in the past few years, really erratic behavior."

Thomas Gilbert Sr.

Thomas Gilbert Sr.

Crime scene investigators were back at the Beekman Place apartment building where the founder of a $200 million hedge fund, Wainscott Capital Partners, had been shot in the head allegedly during a violent encounter with the son on Sunday.

His distraught mother called 911 after finding her husband in a bedroom of the eighth floor apartment.

Neighbors on upscale Beekman place were shocked to hear of this fatal shooting in their quiet two block enclave.

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