Former Compass Bank executive indicted in federal fraud bust

A former high-ranking Jacksonville bank executive is among those indicted in a federal crackdown on mortgage fraud. Donald W. Linville, who worked at Compass Bank, is charged with a felony count of making a false entry in the bank's statement with intent to defraud, according to the indictment. Linville altered the property appraisal in a loan file in April 2006 for a project called West Winds Development, the indictment alleges. The indictment says Linville acted without the bank's authority. In September 2008, the Board of Governors of the Federal Reserve System banned Linville from banking after alleging he altered records in Compass Bank files "without the knowledge and consent of the bank” while he was senior vice president of the commercial real estate group. Linville agreed to the order without admitting to any allegations. Posted in: Internal Fraud