Son pleads not guilty in financier's death

Gavel

Thomas Gilbert Jr. is accused of murdering the 70-year-old founder of Wainscott Capital Partners in a dispute over a cut on his monthly allowance.

The son, who is accused of murdering 70-year-old Thomas Gilbert in his East Side apartment last month in a dispute over a cut on his monthly allowance, entered the plea Thursday in state court in Manhattan, NBC New York reports.

Authorities have said Gilbert Jr., 30, tried to stage the murder scene to look like a suicide after he shot his father.

Authorities also said they found 21 blank credit cards, bullets, empty shell cases and a device for stealing credit cards in Glibert Jr.'s apartment. Gilbert Jr., a Princeton graduate, told the police he made approximately $3,000 per month working full time in finance, the report also said. The police, however, found no recent work history from Gilbert Jr. and also found he was in debt, the website said.

Read More Son charged with killing NYC money manager

The father founded Wainscott Capital Partners in 2011, according to the company's website.

Read the full report here.

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