Tennessee Hands Investigation of Failed Graceland Foreclosure Attempt to Federal Authorities

Elvis Presley's granddaughter, Riley Keough, and the heir to Graceland, previously called the attempt “fraudulent"

GAB Archive/Redferns Elvis Presley's house Graceland in Memphis, Tennessee

The Tennessee Attorney General's office has handed over the investigation of the failed foreclosure attempt of Elvis Presley's Graceland estate to federal investigators, a spokesperson said in a statement.

“The Tennessee Attorney General’s Office looked into the Graceland matter, and it quickly became apparent that this was a matter best suited for federal law enforcement. We have faith in our federal partners and know they will handle this appropriately," director of communications for the Tennessee Attorney General's Office Amy Lannom Wilhite said on Tuesday, June 25, per the Commercial Appeal.

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

Michael Ochs Archives/Getty Elvis Presley at Graceland

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 the heir to Graceland, called the attempted foreclosure sale of the property “fraudulent" in a 60-page lawsuit obtained by PEOPLE.

The Under the Bridge star, 35, inherited the mansion after the death of her mother, Lisa Marie Presley.

Jerod Harris/Getty Images Riley Keough, premiere of Hulu's "Under The Bridge," April 2024

In her complaint, which was filed on May 20, Keough asked a court to block Naussany Investments & Private Lending LLC from selling Graceland in a non-judicial sale scheduled for May 23. Additionally, she claimed that the LLC may not even be "a real entity."

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

The company claimed Lisa Marie borrowed $3.8 million and gave them a deed of trust encumbering Graceland as security prior to her 2023 death.

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

Eric Charbonneau/Getty Riley Keough, Priscilla Presley, Harper Vivienne Ann Lockwood, Lisa Marie Presley and Finley Aaron Love Lockwood see at Warner Bros. Special Screening of ELVIS on June 11, 2022.

"Elvis [Presley] made Memphis the center of the music universe, and Graceland stands as a monument to his legacy and a fond remembrance for his family," he continued. "My office has fought fraud against homeowners for decades, and there is no home in Tennessee more beloved than Graceland."

"I have asked my lawyers to look into 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 heirs and anyone else who may be similarly threatened," Skrmetti’s statement added.

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The “Can’t Help Falling in Love” crooner purchased his Graceland estate at just 22 years old on March 19, 1959, for $102,500 — which would equal more than $900,000 in today's money.

Graceland is said to be the second most visited home in America, drawing in an average of more than 650,000 visitors a year — with the White House ranking as the most visited residential property in the nation.

Read the original article on People.