Tennessee attorney general hands failed Graceland sale investigation to federal authorities

In a recent development, the Tennessee attorney general's office has handed over its investigation into the failed sale of Elvis Presley's iconic home, Graceland, at a foreclosure auction to federal authorities. This decision was made following concerns raised over the attempted foreclosure sale of the renowned tourist attraction. The attorney general's office expressed confidence in the federal partners to handle the matter appropriately. The investigation stems from a public notice for a foreclosure sale of the 13-acre estate, revealing that Promenade Trust, which oversees the Graceland museum, owes $3.8 million after defaulting on a 2018 loan. The ownership of the home passed to Riley Keough, an actor and Presley's granddaughter, after the death of her mother, Lisa Marie Presley. Allegations surfaced that Naussany Investments and Private Lending used fraudulent documents related to the loan, prompting legal action. Chancellor JoeDae Jenkins intervened by issuing an injunction to halt the proposed auction following Keough's lawsuit alleging fraud. The authenticity of the loan documents was called into question, with discrepancies surrounding the notary's involvement and the loan's recording in a different state. Naussany Investments refrained from further proceedings, citing the need for legal action across multiple states. Moreover, claims emerged suggesting a Nigerian fraud ring's involvement in the foreclosure sale attempt, targeting deceased individuals in the U.S. for financial exploitation. Despite these revelations, no future hearings have been scheduled. Notably, a Presley-themed entertainment complex adjacent to the museum is under the ownership of Elvis Presley Enterprises, adding another layer to the ongoing legal and financial complexities surrounding Graceland's foreclosure saga.