Owner of Troubled S&L; Indicted

The owner of Old Court Savings and Loan, a thrift whose troubles triggered a run on other S&Ls;, was indicted today on charges he embezzled $13.6 million and misappropriated more than $1 million from Old Court and another institution.

Jeffrey A. Levitt, 43, of Baltimore was charged by the grand jury with 12 counts of felony theft, each punishable by 15 years in prison and a $1,000 fine, and 13 counts of misappropriation by a fiduciary, each of which carries a possible five-year sentence.