Sale of Elvis Presley's Graceland under federal scanner after granddaughter Riley Keough halts auction

MEMPHIS, TENNESSEE: Just a few weeks after Elvis Presley’s granddaughter Riley Keough managed the stop Graceland from going into auction, there is a recent development in the foreclosure bid. 

Recently, a spokesperson for the King of Rock's Graceland estate, shared in a statement that the Tennessee attorney general has asked the federal government to investigate the foreclosure bid to get hold of the estate.

Recent developments in Graceland's foreclosure bid

A spokesperson for Graceland recently shared in the statement that the state’s attorney general called for a federal investigation into the matter, per Daily Mail.

On Wednesday, June 26, the spokesperson gave insight into the legal tussle between Presley’s actress granddaughter Keough and Naussany Investments & Private Lending LLC, who tried to take over the iconic property. 

Amy Lannom Wilhite, director of communications for the Tennessee Attorney General's Office, said that the entire situation “was a matter best suited for federal law enforcement.”

Wilwhite continued, “We have faith in our federal partners and know they will handle this appropriately.”

Legal feud regarding Elvis Presley's Graceland estate

Following Elvis’ daughter Lisa Marie Presley’s death in January, 2023, her daughter Riley Keough was named as the sole trustee of the estate. 

However, after Lisa Marie’s death of cardiac arrest at the age of 54, the mysterious investment company, Naussany Investments claimed that Elvis’ daughter owed them $3.8 million. 

The company not only pressured the family to repay the amount but also said that Lisa Marie had used Graceland as collateral to borrow the amount. 

They further provided a deed of agreement between them and Lisa Marie which was notarized by a Florida attorney.

The company then sent multiple emails to the Presley family’s lawyers, claiming they would accept a reduced sum of $2.8 million if it meant the sum was repaid.

When the family refused to pay the sum, Naussany published an advertisement in a Memphis newspaper for the house’s foreclosure bid. 

Keough then filed a petition at the court to halt the auction claiming the documents that Naussany was producing were “fraudulent".

She also claimed that her mother had never taken out the loan.

Finally, on May 22, a day before the auction was to take place, Shelby County Chancellor JoeDae Jenkins issued an injunction and halted the sale.