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A woman pleaded guilty to one count of mail fraud for trying to orchestrate a scheme that included a threat to auction off Graceland, the former home of Elvis Presley, the Department of Justice (DOJ) said.
Court documents show that Lisa Jeanine Findley, 53, of Kimberling City, Mo., along with accomplices, orchestrated a scheme to fraudulently sell Graceland using a fake company, forged documents and false court filings.
The group claimed that Elvis Presley’s daughter, Lisa Marie Presley, had pledged Graceland as collateral for a loan that she failed to repay before her death in January 2023. Findley reportedly put the scheme into action upon Presley’s death.
Fraudsters initiated the plan through communication with actress Riley Keough, Lisa Marie Presley’s daughter, who had taken over as sole owner of Graceland. Keough pursued legal action to stop any potential sale of the property soon thereafter.
An investigation into the matter by the Tennessee Attorney General was turned over to federal authorities in June.
Experts place Graceland’s value at somewhere between $400 million and $500 million.
Findley threatened to foreclose on Graceland and auction it to the highest bidder if Elvis Presley’s family did not pay or settle the claim against the estate, according to the DOJ.
She is scheduled to be sentenced June 18 and faces a maximum penalty of 20 years in prison. The DOJ said a federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
Efforts to illegally sell Graceland put a spotlight on rising instances of seller impersonation fraud.
A study conducted by NDP Analytics found that 28% of title insurance companies experienced at least one seller impersonation fraud attempt in 2023, and in April 2024 alone, 19% of firms experienced at least one of these attempts.
The Federal Bureau of Investigation said Americans reported losses of more than $145 million from real estate-related fraud in 2023.
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