NY man accused of killing hedge-fund founder dad over allowance fight is charged with murder

A man accused of killing his hedge-fund founder father over an argument about allowance has been charged with murder.

Thirty-year-old Thomas Gilbert Jr. pleaded not guilty Thursday in Manhattan State Supreme Court.

Authorities say he was angry that his monthly allowance would be cut by a few hundred dollars. They say he went to his father's home Jan. 5 in tony Beekman Place, shot him and then tried to make it look like a suicide.

Thomas Gilbert Sr. was 70 years old. The Harvard Business School and Princeton alumnus worked on Wall Street for more than 40 years. He founded Wainscott Capital Partners Fund in 2011.

The junior Gilbert was held without bail.

His lawyer, Alex Spiro, says it's clear the case is circumstantial and there isn't an eyewitness.