New York City police are searching for a man on parole who allegedly broke into a Queens home, killed a couple and set their house on fire, authorities said.

Frank Olton, 76, was found on Monday tied to a pole in his basement suffering from multiple stab wounds, and his wife Maureen Olton, 77, was found on the house's first floor, severely burned, NYPD Commissioner Jessica Tisch said at a news conference on Tuesday.

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