One of the biggest creditors listed is Integrated Electrical Services Inc., the Houston-based specialty contractor for which Scarborough several years ago provided surety credit. That business deal was unusual in that it involved a large specialty contractor and an individual surety. The Scarboroughs list the amount owed to the contractor as a "judgment based on business guarantee" of $1.6 million.
Other large creditors include contractors American Demo & Nuclear Decommissioning, Inc., Jamestown, N.Y. ($139,000), Michael Frederick Paving Corp., Atascadero, Calif. ($285,000) and Associated Ready Mix Concrete, Newport Beach, Ca. ($185,000). All the amounts are listed as disputed.
Earlier this year, Scarborough's key employee in his surety bond business, Steven Golia, sued Scarborough for payment he said Scarborough owed him.
Neither could be reached for comment. But Scarborough, in an interview for a story in February 2013, claimed he was targeted by corporate sureties seeking to put him out of business and that corporate sureties really were the scoundrels. "And they call me a crook," he said.
Scarborough also said the coal waste he sold from his Kentucky property showed that it was a valuable asset with which to back his bonds.
Valuable Autos and Firearms
The Scarboroughs' extensive property includes a $180,000 RV, an $80,000 Bentley automobile and an extensive firearms collection.
The Scarboroughs list among their assets two residential properties, one in Earlysville, Va., valued at $3.2 million, and another in Haines City, Fla., valued at $502,000.
One last piece of real estate listed is described in the bankruptcy filing as a parcel in West Virginia that IBCS apparently had used to secure several millions of dollars worth of bond guarantees. Scarborough's rationale was that the coal waste on the site could be mined and sold.
At one time Scarborough's consultants theorized the parcel's value at $191 million. The property's value is listed in the bankruptcy filing as $120,000.
