Graceland’s sole owner Riley Keough is suing over a looming foreclosure auction of the legendary Memphis property. Keough’s legal representation is calling the basis of the sale attempt, set into motion by a company known as Naussany Investments & Private Lending LLC, fraudulent. “There is no foreclosure sale,” reads a statement by Elvis Presley Enterprises, which operates Graceland.
CNN reports that Keough—who is the eldest daughter of Elvis’s only child, the late Lisa Marie Presley—filed a suit on May 15 and was able to obtain an order halting sale proceedings scheduled to take place this Thursday. Keough was named owner of Graceland in August, following Lisa Marie’s January 2023 death.
Naussany Investments & Private Lending LLC claims that Lisa Marie borrowed $3.8 million from them, using Graceland as collateral. The firm produced loan documents imprinted with what appears to be Lisa Marie’s signature. “These documents are fraudulent,” Keough’s lawsuit maintains. “Lisa Marie Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments.” The documents also bear the name and approval of a Florida notary who, according to the lawsuit, “never met Lisa Marie Presley nor notarized any document for her.”
Keough’s suit asserts that the LLC “appears to be a false entity created for the purpose of defrauding.” CNN was unable to find a registered company by that name anywhere nationwide. The outlet reached out to the entity and was unable to get in touch.
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Graceland was home to Elvis Presley from the age of 22, when he purchased it for $102,500, up until his 1977 death at the property. The Colonial Revival–style mansion is the second-most visited home in America (after the White House), receiving around 600,000 visitors annually.
The rock icon was heavily involved in the home’s decor. His former wife, Priscilla Presley, told AD that Elvis once “left plans for [the interior decorator] on the color and fabric choices and layout of the furnishings” prior to leaving the estate to shoot a film. The home’s patinated display of true-to-form interior trends from the late ’50s through the late ’70s prompted the English Duchess of Cavendish to comment that “students of the decorative arts should see Graceland as part of their education.”
A court hearing on the case is scheduled for Wednesday in Shelby County, Tennessee.