http://www.myfoxhouston.com/story/27...ut-source-says
Son allegedly killed hedge fund founder over $200 allowance cut, source says
The son of a millionaire Manhattan hedge fund founder allegedly gunned down his dad because his allowance was cut to $400 from $600 a month a $200 difference a law enforcement source told the New York Post.
Thomas Gilbert Sr. was shot in the head at his Beekman Place residence on the East Side on Sunday, police said. Officers responded to the home after reports of shots fired, and found Gilbert in the bedroom, with a handgun near his body.
Gilbert's son, Thomas, was being questioned by police but no charges have been filed, police said.
The New York Post reported, citing law enforcement sources, that Gilbert, 70, was shot in the head by Thomas during an argument in the elder Gilbert's bedroom. The son fled on foot after the shooting, prompting a rare police manhunt on Beekman Place, a tony East Side enclave located just north of the United Nations.
He was cutting his allowance, a source said. He had been giving him $2,400 a month for rent and $600 for spending money, and he was cutting that to $400 a month for spending money.
Gilbert Jr., 30, was arrested around 11 p.m. Sunday night in his apartment after police tracked his cell phone, the Post reported.
A neighbor told the paper that he had learned from a doorman that the younger Gilbert had entered the building shortly after his father, but left minutes later and did not respond to the doorman's greeting.
He arrived at the building carrying the gun and told his mother, Shelly, to leave the apartment to get him a sandwich, the source said.
When Shelly returned, she discovered Gilbert's body and called 911.
My husband's been shot by my son! she reportedly said.
Authorities found the box the gun came in and are investigating whether it was purchased illegally, the source said.
In 2011, the elder Gilbert founded Wainscott Capital Partners Fund, which has $200 million in assets. Industry publication Hedge Fund Alert said in an August 2013 article that the fund had a net return of nearly 25 percent in 2012.
He was a graduate of Princeton University and Harvard Business School.
Gilbert Jr. also attended Princeton, graduating in 2009 with a degree in economics. It wasn't immediately clear whether the son worked with the father, but he was not listed on the company's website.
Gilbert Sr. worked on Wall Street for more than 40 years, according to his profile on Wainscott's website, and previously co-founded Syzygy Therapeutics, a biotech asset acquisition fund. He also was founder and CEO of an online teacher-education company called Knowledge Delivery Systems Inc.
Wainscott had no immediate comment Monday. The hedge fund invests in biotechnology and health care stocks, which typically make up about 70 to 80 percent of its investments, according to the firm's website. The fund focuses on stocks traded on large exchanges like the Nasdaq and New York Stock Exchange, with as many as 70 different investments at one time. The minimum amount for investors is $500,000.
"He was a pillar on Wall Street somebody everyone looked up to," Hector Torres, a neighbor of Gilbert's who also works in finance, told the New York Post. "Very nice gentleman ... They seem like a normal family," Torres added. Every time I saw him in the elevator, he would say hi, he would ask how I was."
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Originally Posted by thesparten
