A company recently stated their intentions to conduct a foreclosure sale of Elvis Presley’s iconic home in Memphis, Graceland.
Naussany Investments & Private Lending LLC was trying to sell the infamous estate in a public auction set for 23 May 2024, but Elvis’ granddaughter and heir of the property, Riley Keough, filed a lawsuit in an attempt to stop the sale. Her efforts were ultimately successful and Graceland remains in the family.
In the lawsuit, Riley, 34, called the sale attempt “fraudulent” as well as claimed that the company may not even be “a real entity”.
The lawsuit was filed in response to Naussany Investments & Private Lending LLC claiming that Riley’s late mother, Lisa Marie Presley, borrowed $3.8 million and gave them a deed of trust that listed Graceland as a form of security.
The company argued that Lisa Marie’s death in 2023 meant that they were not reimbursed for the money she borrowed and thus they were attempting to go through with the sale of Graceland in compensation.
In response, Riley filed a 60-page lawsuit that alleged “the note and deed of trust are fraudulent and unenforceable”.
“The purported note and deed of trust are products of fraud and those individuals who were involved in the creation of such documents are believed to be guilty of the crime of forgery,” the suit also claimed.
Riley asked the court to grant a temporary restraining order against the company to stop them “from conducting any non-judicial sale of the property”, and this was afforded.
“Naussany Investments & Private Lending LLC appears to be a false entity created for the purpose of defrauding the Promenade Trust (the trust of Keough and formerly of Lisa Marie Presley), the heirs of Lisa Marie Presley, or any purchaser of Graceland at a non-judicial sale,” the complaint stated.
The lawsuit also included documentation of the alleged loan to Lisa Marie and the deed of trust, with Riley’s legal team claiming her late mother’s signature was forged on the documents.
Riley’s grandmother and Elvis’ ex-wife Priscilla Presley commented on the matter via her Instagram page, uploading a photo of Graceland along with the words “It’s a Scam!” written in red text.
Elvis Presley Enterprises also released a statement saying that they agreed with Riley’s claims of fraud.
“Elvis Presley Enterprises can confirm that these claims are fraudulent. There is no foreclosure sale. Simply put, the counter lawsuit has been filed to stop the fraud.”
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