News is coming out of Philadelphia about a murder involving a son who wanted an inheritance earlier than he was expected to.
A man shot his hedge fund founder father to death inside his apartment near the United Nations headquarters after they argued over the son’s allowance, police said Monday.
Thomas Gilbert Jr. was arrested on charges of murder and criminal possession of a weapon in the death of Thomas Gilbert Sr. He was being held pending arraignment, and the law office representing him had no comment.
Police said Gilbert Jr. went to his parents’ home on Manhattan’s East Side on Sunday and asked his mother to go out to get him some food. About 15 minutes later, she got a “bad feeling” and went back, said Robert Boyce, the chief of detectives for the New York Police Department.
“She found Senior on the floor with a bullet hole in the head,” Boyce said. “She also found a gun resting on his chest with his left hand covering it.”
But Boyce said it was a staged suicide – his son was trying to cover up the killing.
Officers went to Gilbert Jr.’s West Side apartment, where they found magazines, loose bullets and a shell that matched the gun found at the scene, police said.
Gilbert Jr., 30, was in debt and had argued with his father, 70, over his allowance, police said.
In 2011, Gilbert Sr., a graduate of Princeton University and Harvard Business School, founded Wainscott Capital Partners Fund, which has $200 million in assets. Industry publication Hedge Fund Alert said the fund had a net return of nearly 25 percent in 2012.
Gilbert Jr. is currently sitting in jail. His inheritance is probably going somewhere else now.