Elvis Presley's historic Graceland mansion was on the verge of being auctioned off last month, but officials called off the sale at the last minute.
Authorities initially stopped the sale after Presley's granddaughter, Riley Keough, said a fake company produced falsified documents indicating that her late mother, Lisa Marie Presley, had taken out a multimillion-dollar loan that she never repaid. Graceland was allegedly a party to the collateral in the false documents through a signed deed of trust.
The attempted sale remains under investigation, but is now under federal investigation, according to USA Today.
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The attempted sale of Graceland mansion is under federal investigation. (Marka/Universal Images Group via Getty Images | Richard Berkowitz/Getty Images)
“The Tennessee Attorney General's Office investigated the Graceland matter and it quickly became apparent that this was a matter better suited for federal law enforcement,” Tennessee Attorney General's Office communications director Amy Lannom Wilhite said in a statement to the outlet.
“We have faith in our federal partners and know they will handle this appropriately.”
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Tennessee Attorney General Jonathan Skrmetti said at the time of the attempted mortgage sale that his office would investigate Naussany Investments and Private Lending.
Elvis Presley purchased Graceland for $102,500 in 1957, according to the History Channel website. (Michael Ochs Archives)
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“I have asked my attorneys to investigate 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 estate and anyone else who may be similarly threatened.” Skrmetti said in a statement. .
The Tennessee Attorney General's Office and the Department of Justice did not immediately respond to Fox News Digital's request for comment.
Naussany alleged that Lisa Marie took out a $3.8 million loan that she never repaid before her death in 2023. The company then initiated plans to sell Elvis' property, as well as surrounding acreage, at a foreclosure auction. .
Lisa Marie Presley died in 2023. (Christopher Polk)
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Attorney Jeffrey Germany, who represents Keough, filed a complaint with the court about the authenticity of the purported trust deed. Germany submitted an affidavit in which he claimed that the alleged notary had not certified Lisa Marie's signature on the alleged deed of trust.
Keough said in a 60-page lawsuit against Naussany Investments that his mother never borrowed money from the company and that Presley's signatures on the deed are forgeries. Keough also alleged that Naussany Investments is not a real entity.
Priscilla Presley and Riley Keough deny claims that Graceland was foreclosed on and are fighting the legality of an alleged sale. (Eric Charbonneau/Getty Images for Warner Bros.)
According to the property's website, about 600,000 tourists visit the property each year. Graceland generates an overall economic impact of $150 million for Memphis, Tennessee.
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It was designated a National Historic Landmark in March 2006. In 1991, it was listed on the National Register of Historic Places.
Fox News Digital's Michael Dorgan contributed to this report.
