TALLAHASSEE, Fla. (AP) _ Seventeen people in Florida, Texas and Britain were accused Thursday of swindling $100 million from two savings-and-loans as they sought money to develop an unspoiled stretch of Florida beachfront.

Developers, bankers and lawyers were accused of using fraud to obtain loans from now-defunct thrifts in Pennsylvania and Texas to buy the Topsail Hill beachfront property near the resort town of Destin in the Florida Panhandle.

A group led by William Michael Adkinson defrauded the S&Ls to obtain $102 million toward the purchase of 21,000 acres 50 miles east of Pensacola, the indictment charged. The two savings and loans were Hill Financial Savings Association of Red Hill, Pa., and Vision Banc, formerly known as Kleberg County Savings Association, of Kingsville, Texas.

Two top officers of the Kingsville bank - former President Robert Louis Corson and Director Billie Jean Garman - were among those indicted.

''There's no question that these two deals ran these two institutions into the ground,'' said Florida Deputy Attorney General Pete Antonacci.

The group convinced the institutions, both now defunct, that the investors had to pay ''tens of millions of dollars'' in fictitious closing costs to inflate the size of the loan, which was never repaid.

About 620 acres of pristine beachfront property was to be sold at inflated prices to the state, but that was stopped in May when federal officials intervened. The price for that land was put at $47 million at the time.

Antonacci said the state has now filed a civil lawsuit seeking forfeiture of 244 acres of the land, which would be set aside and preserved.

The remaining land is held by Sandshore Investors Inc., which was controlled by Adkinson, and the Resolution Trust Corp., the government agency set up to sell the assets of failed S&Ls.

The Adkinson group purchased the land from St. Joe Paper Co., one of Florida's largest landowners, in June 1986 for $50 million in cash and a $132 million note.

When the group failed to pay off the note, St. Joe foreclosed and took back most of the property in 1987.

The main defendants are Adkinson, formerly of Houston, attorney Keith Alan Cox of London, Robert Alligood of Jacksonville, Houston attorney Robert L. Collins and Houston developer Ronald Peek. They face up to 335 years in prison and $11 million in fines each.

The remaining defendants, including the Kingsville bankers, face penalties ranging from 145 to 305 years in prison and fines of up to $10 million each.

The investigation is expected to continue and will focus on the principals of the failed Pennsylvania S&L, Antonacci said.