Lawyer Charged With Defrauding Actress, Others of $1.24 Million

A suspended lawyer who operated a Westside business and financial management firm has been charged with bilking his clients, including actress Olivia Hussey, out of $1.24 million.

Jay Lawrence Levy, 51, was arrested in Venice earlier this week and was held on $445,000 bail. His estranged wife and former office manager, Rochelle Perrie Levy, surrendered to police Wednesday and was held on $200,000 bail.

They are accused of mismanaging the accounts of clients who had come to them for financial services, such as tax preparation and management of personal and business checking accounts.

In the criminal complaint made public Thursday, Jay Levy allegedly forged Hussey’s name on a $348,000 trust deed for her home in a gated community off Mulholland Drive and used that to get a loan. To pay off the interest on the loan, Levy forged Hussey’s name on her checks, said Deputy Dist. Atty. Peter A. Burke.

The actress achieved fame as a teen-ager when she played the female lead in Franco Zeffirelli’s 1968 film version of “Romeo and Juliet.”

Hussey also has accused Levy of stealing as much as $1 million from her savings and pension fund, and has filed a civil lawsuit against him. Levy is fighting at least 11 other lawsuits filed by former clients.

In the early 1980s, Levy settled a lawsuit with entertainers Tom and Dick Smothers after they accused him of breach of contract and negligence.

Jay Levy could be sentenced to 11 years in prison if convicted of the multiple counts of fraud and grand theft against him. His ex-wife could get eight years.

Both were in court Thursday for bail hearings, but their arraignments were postponed until Monday. Jay Levy’s law license was suspended in August because of non-payment of Bar dues.