Tennessee hands over investigation into Graceland foreclosure attempt to government

The Tennessee Attorney General’s Office has handed over the investigation into the failed attempt to foreclose on Elvis Presley’s Graceland estate to federal investigators, a spokesman said in a statement.

“The Tennessee Attorney General’s Office investigated the Graceland matter and it quickly became clear that this was a matter best suited for federal law enforcement. We have confidence in our federal partners and know they will handle this appropriately,” Amy Lannom Wilhite, communications director for the Tennessee Attorney General’s Office, said Tuesday, June 25, according to the Commercial appeal.

The FBI did not immediately respond to PEOPLE’s request for comment.

In late May, Tennessee Attorney General Jonathan Skrmetti said he was “looking into” the recent attempt to sell Presley’s historic Memphis home, which has become a landmark and tourist attraction.

Skrmetti’s statement came after actress Riley Keough, Presley’s granddaughter and heiress to Graceland, called the attempted forced sale of the property “fraudulent” in a 60-page lawsuit obtained by PEOPLE.

The Under the bridge The 35-year-old star inherited the mansion after the death of her mother, Lisa Marie Presley.

In her lawsuit filed on May 20, Keough asked a court to block Naussany Investments & Private Lending LLC from selling Graceland in an out-of-court sale scheduled for May 23. In addition, she claimed that the LLC may not even be “a real legal entity.”

During a hearing on May 22 in Shelby County Chancery Court in Memphis, Judge Chancellor JoeDae L. Jenkin halted the attempted sale.

The company claimed that Lisa Marie borrowed $3.8 million before her death in 2023 and gave them a trust deed with the encumbrance of Graceland as collateral.

“Graceland is one of Tennessee’s most iconic landmarks, and the Presley family has generously shared it with the world since Elvis’ death,” Skrmetti wrote in a press release the day the property’s foreclosure auction was scheduled.

“Elvis (Presley) made Memphis the center of the music universe and Graceland is a monument to his legacy and a loving memory for his family,” he continued. “My office has been fighting homeowner fraud for decades and there is no more beloved home in Tennessee than Graceland.”

“I have asked my lawyers to look into this matter, determine the full extent of any possible wrongdoing, and find out what we can do to protect both the heirs of Elvis Presley and anyone else who may be similarly threatened,” Skrmetti’s statement continued.

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The “Can’t Help Falling in Love” singer bought his Graceland estate on March 19, 1959 at the age of just 22 for $102,500 – which would be equivalent to more than $900,000 today.

Graceland is considered the second most visited home in America, attracting an average of more than 650,000 visitors each year. The White House is the most visited residential building in the country.