WASHINGTON -- A federal grand jury in Little Rock yesterday indicted the heads of bond firm Swink and Co. on 29 counts of conspiring to violate federal securities laws and other charges.

The grand jury found that Jim D. Swink Sr. and Jimmy D. Swink Jr. in early 1989 fabricated a story that University City, Mo., issued millions of dollars of industrial development authority bonds and that their firm had sold the securities to American Physician Securities Group Inc., according to a 23-page indictment.

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