Jay, who married F1 heiress Tamara following a whirlwind romance in 2013, was arrested and charged with assisting an offender last week - and could face up to seven years in jail if convicted.
According to reports, Jay is accused of helping drugs baron James Tarrant, 66, who absconded while awaiting trial in 2010. Jay has strenuously denied the allegation.
Sources have today told The Sun that Tamara - daughter of Bernie Ecclestone - is "sick with worry".
"Tamara is sick with worry about him being banged up but is putting on a brave face on it," an insider told the newspaper. "It has come as a bolt from the blue and is potentially very bad news, especially as they have a young daughter."
Tamara and Jay welcomed daughter Sophia in March 2014.
It has also been reported that the allegations date back to before Jay was in a relationship with Tamara and when he was living in Essex. Bernie is said to be offering his full support to his son-in-law.
Despite her husband facing jail, Tamara is currently on holiday in Dubai with Sophia and has been sharing cute holiday snaps with fans.
One Instagram photo shows her daughter toddling along in a pretty yellow sarong and, alongside it, Tamara said: "Her cheekiness knows no bounds @ Atlantis The Palm, Dubai."
Tamara has made no reference to her husband's strife on social media.
Jay, a businessman, attended a police station in London last Wednesday, where he was officially charged with assisting an offender.
He has been bailed to appear before court next month.