After a year-long investigation, a grand jury indicted two former Harvard students Wednesday morning for stealing $132,000 raised for children's cancer research through an Eliot House ice skating show.

Charles K. Lee '93, who co-chaired An Evening with Champions in 1992, has been charged with 58 counts of larceny over $250. and eight counts of larceny under $250.

David G. Sword '93, the treasurer of the 1991 and 1992 shows, was indicted on one count of larceny over $250 for taking $12,000.

Larceny over $250 is a felony punishable by up to five years in prison, while larceny under $250 could carry up to 18 months in jail.

Jill Reilly, a spokesperson for the district attorney, said Lee and Sword allegedly used the money for personal expenses, such as telephone bills, and other non-event related purposes.

Reilly said Lee spent a significant portion of the $120,000 he allegedly took on clothing from stores such as Saks Fifth Avenue and Eddie Bauer.

Lee's attorney said his client would plead not guilty to the charges. Sword's lawyer did not return several phone calls.

In the wake of the indictment, Lee has resigned from his job at CUC International, a membership services company in Connecticut, according to a report in today's Stamford Daily Gazette.

An employee answering the phone last night at the company refused to comment on the report.

Sword could not be reached for comment, and his parents said that on the advice of legal counsel they are not granting interviews.

An Evening With Champions is an annual event featuring Olympic and other world class ice skaters.

The event is intended to raise money for the Jimmy Fund, which provides funds for research and treatment of children at the Dana-Farber Cancer Institute.

Reilly said yesterday that the district attorney will try to make the defendants reimburse the Jimmy Fund if they are indeed guilty.

"This indictment clearly illustrates that fraud, theft or any misuse of charitable monies cannot and will not be tolerated," Mike Andrews, executive director of the Jimmy Fund, said in a statement.

"The true victims of this crime are the Jimmy Fund children and adults for whom these funds were intended," Andrews added.