Investigation into Failed Sale of Elvis Presley’s Graceland Turned Over to Federal Authorities

Federal Authorities Take Over Investigation into Failed Sale of Elvis Presley’s Graceland

The Tennessee attorney general’s office has handed over its investigation into the failed sale of Elvis Presley’s iconic home, Graceland, to federal authorities. The investigation into the attempted foreclosure sale of the famous tourist attraction has now been deemed a matter best suited for federal law enforcement.

The decision to involve federal authorities comes after the proposed auction of Graceland was halted by an injunction issued by Shelby County Chancellor JoeDae Jenkins. This injunction was issued after Riley Keough, Presley’s granddaughter, filed a lawsuit claiming fraud in relation to the foreclosure sale.

The public notice for the foreclosure sale stated that Promenade Trust, which controls the Graceland museum, owes $3.8 million after failing to repay a 2018 loan. Keough, who inherited the trust and ownership of the home after the death of her mother, Lisa Marie Presley, last year, alleged that fraudulent documents were presented regarding the loan.

The lawsuit also raised questions about the authenticity of the documents and the legitimacy of the company involved in the foreclosure sale. The company, Naussany Investments and Private Lending, was not registered in state databases and had no representatives appear in court.

An email sent to the Associated Press claimed that the foreclosure sale attempt was orchestrated by a Nigerian fraud ring targeting old and deceased individuals in the U.S. for financial gain.

Graceland, which opened as a museum and tourist attraction in 1982, continues to draw hundreds of thousands of visitors each year. The investigation into the failed sale of this historic landmark remains ongoing, with no future hearings scheduled at this time.