Fraud charged, Chapin arms dealer seeks bankruptcy Wed, 06/12/2019 - 2:00am A Chapin company has filed for bankruptcy amid charges it defrauded lenders of $160 million. Arms wholesaler Ellett Brothers’ Delaware-based owners filed for bankruptcy this week after a lawsuit claimed they borrowed the money to help the company but kept most of it themselves. Prospect Capital Corporation filed the lawsuit in Lexington ...PLEASE LOG IN FOR PREMIUM CONTENT. Our website requires visitors to LOG IN to view the best local news. Not yet a subscriber? Subscribe today! Read more about Fraud charged, Chapin arms dealer seeks bankruptcy Tags: Ellett Brothers’fraudbankruptcychapin newsTodd BoehlyAndrew KupchikF. Hewitt GrantBernard ZiomekCharles E. Walker Jr.