Elvis Presley's Graceland: A Legal Battle Over Ownership and Alleged Fraud
Graceland, the iconic home of Elvis Presley in Memphis, Tennessee, has been at the center of a legal dispute between Riley Keough, Elvis' granddaughter and actress, and Naussany Investments & Private Lending LLC. The company had planned to auction off Graceland due to a claimed $3.8 million loan that Lisa Marie Presley, Elvis' daughter who passed away in 2023, allegedly failed to repay.
However, Riley Keough and her legal team have filed a lawsuit against Naussany Investments & Private Lending LLC for alleged fraud. They claim that the documents presented by the company regarding the loan and deed of trust encumbering Graceland as security are fake or forged.
The notary listed on Naussany's documents, Kimberly Philbrick, has also indicated that she did not meet Lisa Marie Presley nor notarize any documents for her. The lawsuit further alleges that Naussany Investments & Private Lending LLC could be a 'false entity'.
Elvis Presley Enterprises, which manages the Presley estate and operates Graceland as a tourist attraction, has also denied the claims of a foreclosure sale and called it fraudulent.
Graceland is not only historically significant but also serves as a major source of income for Elvis Presley Enterprises and the family trust. The legal tensions arise after Priscilla Presley contested Lisa Marie's will following her death, questioning its authenticity and validity.
The case is ongoing, with the temporary restraining order issued by Shelby County Chancellor JoeDae Jenkins blocking the auction of Graceland. The outcome of this legal battle could have significant implications for Elvis Presley's legacy and his family.