Graceland has long been the jewel of Memphis. It was the home of the icon Elvis Presley and also a regular tourist spot. However, it could close forever if a foreclosure sale proceeds. A legal notice has Graceland set to be sold this week. However, Presley's grandaughter Riley Keough is fighting the sale via a lawsuit.
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Keough accuses the claims of being fraudulent. Courts granted Keough a temporary restraining order with a hearing set for this Wednesday. Her grandmother Priscilla Presley has also spoken out against the sale. She had a simple response for the transaction. "It's a scam!" Priscilla Presley wrote on her X account.
"These documents are fraudulent," Keough's lawsuit agrees. So what's up? Well, A notice published this month states that Graceland will be auctioned off to the highest bidder. The notice alleges that the late Lisa Marie Presley signed a Deed of Trust for a $3.8 million loan with Naussany Investments and Private Lending. Lisa Mari allegedly used Graceland as collateral but never paid back the loan. Now, the company is attempting to auction off the historic home.
Presley's granddaughter claims that the company is bogus and that Presley's signatures have been falsified. The notary denies that she notarized Lisa Marie's signature for the deed. Keough alleges, "The note and deed of trust are fraudulent and unenforceable."
Elvis Estate Alleges Graceland Fraud
"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," Keough continued
"On information and belief, Naussany Investments & Private Lending LLC is not a real entity. 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," Keough also added.
Meanwhile, Graceland officials also commented on the potential foreclosure. They said, "Elvis Presley Enterprises can confirm that these claims are fraudulent. There is no foreclosure sale. Simply put, the counter lawsuit has been filed is to stop the fraud."
Graceland remains one of the most popular tourist spots in the country. Elvis bought the mansion in 1957. It was also ran by his daughter after his death, becoming a public museum.
