Contractor Abandoned job after receiving most of the money

[J Lee]

I had a large electrical job that I went through a construction loan to finance. The electrician was paid installments and draws mainly through our lender. We also paid directly for supplies and materials.

Come to find out most of the work that was to be completed has not been done yet. After chasing and following up aggressively (even involving our lender) the contractor has disappeared. 

We have the insurance information for the contractor and was wondering if anyone had experience pursuing a claim through the insurance company for an abandoned job? In addition, since there was loan money involved, not sure if those funds were used incorrectly for other instances instead of the job. 

Any guidance or experience that can shared will be great appreciated. 

[Bruce Woodruff]

Yes, was this a Licensed Electrician? I'm guessing so given the large scope of the job? If so, you can a) Call the State Contractors Board and file a complaint. No Legit Contr wants this as it will show up on their record forever. b) Find out who their Bond is with and go after that. That will get you $15,000 and once again a huge black mark on their record.

Who inspected their work? Usually with a Bank Loan job, there is a 3rd party inspection before any funds are dispersed. Is there something we're missing here?