California authorities said Tuesday they filed a lawsuit and made seven arrests in a mortgage fraud case involving seven companies and thousands of homebuyers in Southern California. The seven suspects were arrested on charges including conspiracy, grand theft, forgery and elder abuse, San Bernardino District Attorney Michael Ramos said. Attorney General Jerry Brown said his office was seeking penalties and restitution of more than $20 million in the bait-and-switch scam led by 25-year-old real estate agent Eric Pony.

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