The son of a hedge fund founder was arrested last night, hours after 70-year-old Thomas Gilbert was shot dead in his Manhattan home. Thomas Gilbert Jr., who may have slipped past security at his father's luxury East Side apartment building before the shooting, was believed to have fled the murder scene on foot. He was arrested after police chopped down the door of his apartment and found him hiding inside, reports the New York Daily News. Police sources say the elder Gilbert, who founded the $200 million Wainscott Capital Partners fund, was shot in the head after what was apparently a violent argument with his 30-year-old son. His wife called 911 after finding the body.
Police say a Glock handgun believed to be the murder weapon was found inside the father's apartment. The father and son may have been discussing "differences in their relationship" before the shooting, according to police, but no motive has been revealed, the Wall Street Journal reports. According to the Daily Mail, the younger Gilbert attended the $50,000-a-year Deerfield Academy in Massachusetts before graduating from Princeton in 2009. A neighbor tells the New York Post that they seemed like a "normal family" and that the elder Gilbert "was a pillar on Wall Street—somebody everyone looked up to." (Read more New York City stories.)