The son of a successful hedge fund manager killed in his ritzy New York City apartment on Sunday is being held by police for his father's death, according to the New York Post.
Thomas Gilbert Jr., the 30-year-old son of the senior Thomas Gilbert, was arrested at his West Side Manhattan residence seven hours after he allegedly shot and killed his father with a .40-caliber gun, police told the newspaper.
Gilbert Sr. was found by his wife Sunday afternoon in a bedroom of their eighth-floor apartment in the Sutton Place neighborhood on Manhattan's East Side.
Investigators said the father and son argued at around 3:30 p.m. Minutes later shots were fired and witnesses said they saw Gilbert Jr. fleeing the apartment, ignoring a greeting from the doorman downstairs.
At around 11:30 p.m., police busted through the son's West 18th Street apartment and found him hiding inside, according to the New York Daily News. He appeared withdrawn and distant as police drove him to a precinct for questioning. A motive remains unclear.
Thomas Gilbert Sr., 70, founded the hedge fund Wainscott Capital Partners in 2011, which now manages $200 million in assets. The Princeton University and Harvard Business School graduate said in a November interview that his company does not take investing recklessly.
"We're not cowboys," Gilbert Sr. told FINalternatives.com. "We're not trying to beat all of the biotech funds."
Those who knew the Gilberts said the father was a well-respected man with over 40 years of experience on Wall Street.
"He was a pillar on Wall Street- somebody everyone looked up to," Hector Torres, a neighbor who also works in finance, told the NY Post.
"Very nice gentleman...They seem like a normal family. Every time I saw him in the elevator, he would say, 'Hi.' He would ask how I was."
