* Ezra Levy accused of stealing more than $1.3 million

* Faces 11 criminal fraud counts, SEC civil charges

* Boston Provident says it tipped off prosecutors

* Levy released on $1 million bond (Adds release on bond)

By Joseph A. Giannone and Jonathan Stempel

NEW YORK, Nov 10 (Reuters) - The chief financial officer of Boston Provident LP was arrested Tuesday on charges of stealing more than $1.3 million from the Manhattan hedge fund firm.

Federal prosecutors accused Ezra Levy of 11 counts of wire and securities fraud in two schemes to defraud Boston Provident, which is run by Orin Kramer, chairman of the New Jersey State Investment Council, which oversees that state's pension fund.

Levy is accused of wiring $726,000 to his personal bank account from Boston Provident in monthly installments from January to October this year.

He is also accused of generating a $600,000 profit for himself by having Boston Provident buy shares of Atlas Energy Inc (ATLS.O: Quote, Profile, Research) and Atlas Energy Resources at inflated prices from an account he controlled.