A Missouri woman was sentenced to 4 years in prison after she fraudulently tried to sell Elvis Presley’s former home. How did the scheme unfold?

It may be one of America’s most famous properties, but its notoriety did not deter a Missouri woman from trying to sell Graceland, the iconic Memphis landmark, the former home of Elvis Presley.

The scheme was designed to extract millions of dollars from the Presley family, according to a New York Times report that cites court documents (1) detailing how Jeanine Findlay, 54, tried to foreclose on Graceland.

Findlay was sentenced to four years and nine months in prison after pleading guilty to a charge of mail fraud in a plea agreement that saw the aggravated identity theft charge dismissed.

The scheme began about six months after Lisa Marie Presley, Elvis Presley’s daughter, died in 2023, The Times reported.

A fabricated company called Naussany Investments & Private Lending LLC claimed that Lisa Marie Presley took out a $3.8 million loan, using Graceland as collateral, and did not repay it before her death.

According to the Times, the affidavit filed for her arrest said Findley used various aliases, email addresses and false documents as part of a plan to threaten to foreclose on the property. The scheme included a package containing a “creditor’s claim” as well as false statements that were sent to the Shelby County Recorder’s Office. A fraudulent “Notice of Foreclosure Sale” was also published in a Memphis newspaper.

It seems impossible – how could a scammer sell your home out from under you? But fraudulent home sales can happen.

In 2023, it was reported in Canada that private investigators working for a title insurance company found that at least 30 homes in the Greater Toronto Area had been sold or foreclosed without their owners’ knowledge. According to CBC, investigators say in four of the cases identity theft and Fraud in transfer of ownership They have been used to steal home ownership. (2)

Read more: US auto insurance costs rise 50% from 2020 to 2024 – this A simple two-minute check can put hundreds back in your pocket

But not all real estate scams are so sophisticated. Here are some factors that can influence buyers and sellers:

• Title fraud: Identity theft is used to steal ownership of a home, and the scammers then sell it or take out a new mortgage on it.

• Quitclaim the act of fraudQuitclaim deeds are legal documents that can transfer the owner’s interest in the property. Fraudsters may use false documents to transfer ownership to themselves.

• Mortgage fraud: Scammers may target people facing financial hardship or foreclosure, pretend to be a lifeline, and in return ask you to transfer your property to them as collateral.

It involves another type of scam that targets home buyers Bank transfer fraud. Cybercriminals hijack email accounts, target pending transactions, and create completely fake profiles of title companies, buyers, sellers and real estate agencies. They can then send instructions to deposit money, such as a down payment, which ends up in the hands of the scammers.

One of the main ways to protect yourself from real estate fraud is to protect your personal information. Be careful about what you share online, and be wary of anyone who asks for your full name, address, date of birth, Social Security number, or banking information.

Stay on top of your bills and bank statements and always review them to make sure everything is in order. You should also obtain and review your credit reports regularly. You’re entitled to one free report per year from each of the three national credit bureaus – Equifax, Experian, and TransUnion. there Only one site It can process your free annual report requests.

If you live in a place that offers free alerts for any changes to your deed, you should sign up.

Scammers often target vacant homes, where the owners live abroad or have moved into a retirement or long-term care home. Consider asking a neighbor to check in on such a property from time to time. You may also want to set up a Google alert for the title just in case He appears On any real estate or rental sites.

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new york times (1); cbc (2)

This article provides information only and should not be construed as advice. They are provided without warranty of any kind.