WEST PALM BEACH, Fla. -- Two former officials of the defunct Cypress Savings Association have been charged with making improper realty loans that caused the Fort Lauderdale institution to fail, the U.S. attorney's office said.

In a 16-count indictment by a federal grand jury in West Palm Beach, Loren Mintz and Carl Guffin were accused of making $24 million in improperly secured real estate loans to Seabridge Associates of Stuart, Fla.

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