NEW YORK (CBSNewYork) – A jury in Lower Manhattan has convicted a 34-year-old man of murdering his wealthy father.

Prosecutors claimed Thomas Gilbert Jr. was angry because his millionaire, hedge fund manager father had reduced his $1,000-a-week allowance.

Thomas Gilbert Jr. has been found guilty of killing his father, hedge fund manager Thomas Gilbert Sr. (Credit: CBS2)

The 70-year-old was shot to death inside his East Side apartment in January of 2015.

Thomas Gilbert, Sr. (credit: Image via CBS2)

Jurors rejected an insanity defense after Gilbert’s lawyer argued he was unfit to stand trial.

Gilbert will be sentenced Aug. 9 and could face life in prison.

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