Son charged with murder in shooting of hedge fund founder; police say they argued over money

Authorities say the son of a hedge fund founder has been arraigned on second-degree murder in the killing of his 70-year-old father.

Thomas Gilbert Jr. also was charged with criminal possession of a weapon and criminal possession of forgery devices Monday night.

New York City police say Thomas Gilbert Sr. was shot in the head in his Manhattan apartment after the two argued over the son's allowance.

They say the son went to his parents' home on Manhattan's East Side on Sunday and asked his mother to go out to get him some food. When she returned, police say she found her husband on the floor with a bullet wound in the head.

The defendant is due back in court on Friday. His attorney didn't immediately return a call for comment.