Elvis Presley's Graceland Mansion: A Battle Over Ownership and Alleged Fraud
The iconic Graceland mansion, the historic home of legendary musician Elvis Presley, has been at the center of a heated legal battle between Elvis' granddaughter Riley Keough and Naussany Investments & Private Lending LLC. The company had planned to auction off Graceland due to an alleged loan default by Lisa Marie Presley, Elvis' daughter, who died in January 2023.
However, Riley Keough filed a lawsuit earlier this month claiming that there was no such loan and that Naussany Investments & Private Lending LLC is a false entity created to defraud the estate. The lawsuit also alleges forgery of legal documents and fraudulent activities by the company.
The controversy began when Naussany Investments & Private Lending LLC presented documents claiming that Lisa Marie Presley had borrowed $3.8 million from them and gave a deed of trust encumbering Graceland as security. However, Riley Keough's lawsuit states that these documents are fraudulent.
The notary public whose name appeared on the disputed document has denied having notarized Lisa Marie Presley's signature. Furthermore, the Tennessee court chancellor ruled in a hearing on May 23, 2024, that Naussany Investments & Private Lending LLC will withdraw all claims with prejudice and will not proceed with its claim to foreclose on Graceland.
Graceland has been a significant part of Memphis' history since Elvis bought the estate for $102,500 in 1957. The property attracts over 500,000 visitors annually and is considered one of America's most popular museums.
After Lisa Marie Presley's death, Riley Keough became the heir to Graceland. However, the recent events have raised concerns about the ownership and future of this iconic landmark.
The legal battle between Riley Keough and Naussany Investments & Private Lending LLC is ongoing. The outcome will determine whether Graceland remains in the hands of Elvis' family or is sold to a new owner.