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Failed Graceland sale by a mystery entity highlights attempts to take assets of older or dead people

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image of fans outside the Graceland property in memphis

Associated Press, May 2024

The catalyst behind the failed gambit to sell off the iconic Graceland property in Memphis is a mystery. The self-styled investment company also is under fire from a lawsuit alleging fraud, an aggressive attorney general and a community of Elvis Presley loyalists who consider the home-turned-museum of the the king of rock n’ roll to be sacred ground.

Among the many questions surrounding the attempt to auction Graceland is how often cases pop up in which an entity emerges to claim assets of older or dead people. Experts say it’s more common than one might think.

“I have never heard of a fraud targeting such a well-known institution. So it’s a bit surprising on that end,” said Nicole Forbes Stowell, a business law professor at the University of South Florida’s St. Petersburg campus. “But I don’t think it’s surprising to everyday people that are the targets.”

Read more at Associated Press.

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