Graceland Fraud Probe: Federal Government Steps In

The Tennessee Attorney General requested federal authorities to take over an investigation into an alleged fraud involving the attempted auction of Elvis Presley's Graceland. The investigation was initially launched after claims that Lisa Marie Presley used Graceland as loan collateral, a claim disputed by her daughter Riley Keough. The auction has been halted by a court injunction.

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 his office was investigating whether any fraud had been carried out. Director of communications for the Tennessee Attorney General's Office Amy Lannom Wilhite said it became apparent that "this was a matter best suited for federal law enforcement."

"We have faith in our federal partners and know they will handle this appropriately," Wilhite said in a statement. According to a public notice of an intended sale, Naussany Investments said that Presley's late daughter, Lisa Marie Presley, had used Graceland as collateral when borrowing $3.8 million that was never repaid. She died last year at age 54.

Lisa Marie's daughter, Riley Keough, who inherited the estate after her mother's death, sued Naussany, saying her mother had never taken out the loan and that Naussany was engaged in fraud. A day before the auction was due to take place on May 23, Shelby County Chancellor JoeDae Jenkins issued an injunction, halting the sale.

A Naussany representative told Reuters just after the judge blocked the sale that it would withdraw all of its claims over Graceland. Graceland, where Elvis Presley is buried, is a popular tourist attraction, drawing more than 600,000 visitors a year.

Presley, dubbed the "King of Rock and Roll," died in 1977 at age 42.

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