Federal Authorities Take Over Graceland Foreclosure Investigation

The Tennessee Attorney General's office has transferred its investigation of the failed foreclosure attempt on Elvis Presley's Graceland estate to federal authorities due to the complexity of the matter. The investigation was initially prompted by Riley Keough, Presley's granddaughter, who filed a lawsuit alleging fraud against Naussany Investments, which claimed Lisa Marie Presley, her mother, had used Graceland as collateral for a $3.8 million loan. A judge halted the proposed auction on May 23, and Naussany subsequently dropped its foreclosure efforts. The FBI and other federal entities have yet to comment on the case. Graceland remains a significant tourist attraction, drawing over 600,000 visitors annually.