Tennessee Turns Failed Graceland Auction Probe Over To Federal Investigators

Tennessee Turns Failed Graceland

Tennessee’s attorney general has asked the federal government to take over an investigation into an attempt to auction off Elvis Presley’s Graceland estate, a spokesperson said on Wednesday.

Tennessee Attorney General Jonathan Skrmetti announced last month that his office was investigating potential fraud.

Amy Lannom Wilhite, Director of Communications for the Tennessee Attorney General’s Office, stated that “this was a matter best suited for federal law enforcement.”

She added, “We have faith in our federal partners and know they will handle this appropriately.”

Naussany Investments claimed in a public notice of an intended sale that Presley’s late daughter, Lisa Marie Presley, had used Graceland as collateral for a $3.8 million loan that was never repaid. Lisa Marie died last year at age 54. Her daughter, Riley Keough, who inherited the estate, sued Naussany, arguing that her mother had never taken out the loan and accusing Naussany of fraud.

On May 22, a day before the scheduled auction, Shelby County Chancellor JoeDae Jenkins issued an injunction to halt the sale. A Naussany representative told Reuters that the company would withdraw all claims over Graceland after the judge blocked the sale.

Graceland, where Elvis Presley is buried, attracts more than 600,000 visitors annually. Presley, known as the “King of Rock and Roll,” died in 1977 at age 42.