Ken Clay of Charlottesville, Va., who pitched...

Ken Clay of Charlottesville, Va., who pitched for the New York Yankees against the Dodgers in the 1977 and 1978 World Series, was indicted on four counts of grand larceny for allegedly stealing more than $16,000 from a school-ring distributor.

Clay, 32, surrendered to Virginia state police after being indicted by a grand jury. He was released on a $10,000 personal recognizance bond. He declined to comment on the charges.

Authorities said Clay deposited money from class-ring sales into his personal bank account instead of an account set up for the school-ring distributor.