Elvis Presley’s historic Graceland mansion narrowly avoided being auctioned off last month, as officials halted the sale at the last moment. This unexpected turn of events unfolded after Presley’s granddaughter, Riley Keough, brought attention to a scam involving fake documents.
Keough revealed that a fraudulent company had produced forged documents claiming her late mother, Lisa Marie Presley, had taken out a multimillion-dollar loan which she allegedly failed to repay. These documents falsely indicated that Graceland was part of the collateral for this nonexistent loan, supported by a forged deed of trust.
The sale, initially paused, has now escalated to a federal investigation. “The Tennessee Attorney General’s Office looked into the Graceland matter, and it quickly became apparent that this was a matter best suited for federal law enforcement,” stated Amy Lannom Wilhite, director of communications for the Tennessee Attorney General’s Office. “We have faith in our federal partners and know they will handle this appropriately.”
Tennessee Attorney General Jonathan Skrmetti has been proactive in addressing the attempted foreclosure. He expressed his office’s commitment to uncovering the extent of the misconduct and ensuring the protection of Elvis Presley’s heirs and others potentially affected. Skrmetti said, “I have asked my lawyers to look into this matter, determine the full extent of any misconduct that may have occurred and identify what we can do to protect both Elvis Presley’s heirs and anyone else who may be similarly threatened.”
Naussany Investments and Private Lending, the firm behind the allegations, claimed Lisa Marie Presley had taken out a $3.8 million loan that remained unpaid at her death in 2023. This firm initiated plans to sell Elvis’ estate and its surrounding acreage in a foreclosure auction. However, Jeffrey Germany, Keough’s attorney, contested the authenticity of the deed of trust. Germany submitted an affidavit asserting that the notary’s signature on the document was a forgery, and Lisa Marie’s signature was not notarized.
In a detailed 60-page lawsuit against Naussany Investments, Keough alleged that her mother never borrowed money from the company and accused the firm of being a fraudulent entity.
Graceland, a major tourist attraction, draws about 600,000 visitors annually and significantly impacts Memphis, Tennessee’s economy, generating $150 million. The mansion was designated a National Historic Landmark in March 2006 and was placed on the National Register of Historic Places in 1991.
