"Spoiled" barely covers it: Thomas Gilbert Jr., who allegedly shot his hedge-fund founder father dead on Sunday, did so because his father had threatened to cut his $400-per-week allowance by $100, police say. Thomas Gilbert Sr. had also discussed stopping paying his son's rent in a Manhattan building where rents average more than $3,000 a month, a police source tells the New York Daily News. Gilbert, a 30-year-old Princeton grad, "was on a stipend from the family," NYPD Chief of Detectives Robert Boyce says. "Looks like he was in debt."
Police believe Gilbert shot his father in the head with a Glock handgun and tried to make it look like a suicide, ABC News reports. "The gun was resting on his chest with his left hand covering it," Boyce says, describing it as a "staged crime scene." Police say that when the son visited his parents on Sunday, he asked his mother to get him a sandwich and she returned 15 minutes later to find her husband's body. Gilbert has been charged with homicide and criminal possession of a weapon. According to public records, he was arrested on Long Island a few months ago for allegedly violating an order of protection and was arrested on drug charges in 2007. (Read more hedge fund stories.)