Federal Investigators Take Over Failed Graceland Foreclosure Attempt

Fans gathered outside Graceland in Memphis, Tennessee on January 22, 2023, to pay tribute to Lisa Marie Presley at her memorial. The Tennessee Attorney General’s office has transferred their investigation into the unsuccessful foreclosure attempt of Elvis Presley’s estate to federal authorities. According to a statement provided by the Attorney General’s office’s communications director, the Graceland case seemed more suitable for federal law enforcement.

Actress Riley Keough, Elvis Presley’s granddaughter, filed a lawsuit against Naussany Investments in May, who claimed to be in possession of the property’s deed. Naussany asserted that Lisa Marie Presley had used the estate as collateral for a $3.8 million loan and failed to repay it. Keough alleged fraud and took legal action to prevent the estate from being foreclosed upon. A judge in Shelby County Chancery Court intervened by halting the sale, and Naussany confirmed it had ceased its foreclosure attempts.

Upon discovering potential fraudulent activities in the matter, the Attorney General’s office initiated an inquiry. They then decided to hand over the case to federal authorities. The Department of Justice has not provided comments on the ongoing investigation.