I know a 14 year old girl who is apparently pregnant by a 17 year old. My question is..Can either of them be prosecuted?...if so, on what charges and what kind of punishment could be involved?

In the State of Indiana, the age of consent is 16. The 17 year old violated the law having sex with a 14 year old who is not capable of "legally" consenting to a sexual act.

The 14 year old would be considered the "victim" in this matter if anything were to come of it. The 17 year old may be charged with a violation and sent to juvenile court. There is no way of knowing what type of punishment, if any, a family court jugde might recommend. Depending on the status of the pregnancy and the options being considered, often, the gravety of the situation becomes clear in educating both minors on custody issues, child support, and parenthood; this may be where the court directs all it's attention. It is difficult to say.