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Elvis Presley’s Granddaughter Sues to Stop ‘Fraudulent’ Graceland Foreclosure Sale

today05/21/2024

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Elvis Presley’s granddaughter, the actress Riley Keough, has filed a lawsuit aimed at blocking a looming foreclosure sale of the late singer’s historic Memphis home Graceland, calling the proceedings “fraudulent.”

In a case filed in Tennessee court last week, Keough alleged that the foreclosure was triggered by phony demands from a company called Naussany Investments – an entity that allegedly claims her late mother, Lisa Marie Presley, borrowed $3.8 million and used the famed mansion as collateral.

The alleged loans are recorded in documents supplied by Naussany that feature Lisa Marie’s signature, but Keough’s lawyers say those records are “forgeries” and that she “did not in fact sign the documents.”

“These documents are fraudulent,” Keough’s attorneys write in their May 15 complaint, obtained by Billboard. “Lisa Marie Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments.”

The foreclosure sale for Graceland had been scheduled for Thursday, but according to court records, Keough’s attorneys won a temporary restraining order last week blocking any sale until the judge can rule on the dispute. A court hearing is set for Wednesday on Keough’s efforts to secure a longer-term injunction blocking the sale.

Naussany (Naussany Investments & Private Lending LLC) could not immediately be located for comment. An attorney for Keough declined to comment. News of the lawsuit was first reported Monday by the Memphis Commercial Appeal.

When Elvis died in 1977, his daughter Lisa Marie inherited his estate, including Graceland — a tourist mecca that pulls in millions of dollars a year in revenue. Until her death last year, she served as trustee of the Promenade Trust, an entity that controls the Memphis mansion. When she passed away, Keough assumed that same role and took control of the property.

According to the lawsuit, Naussany alleges it made the multi-million dollar loan to Lisa Marie in 2018 and recorded the transaction in Florida. But Keough’s lawyers say that Naussany is “a false entity created for the purpose of defrauding the Promenade Trust,” orchestrated by a man named Kurt Naussany who has sent “numerous emails seeking to collect the purported $3.8 million debt.”

Keough’s attorneys say the evidence “strongly indicates the documents are forgeries” – most notably, that the notary who allegedly signed off on the transaction has confirmed that she did not do so. “Indeed, she confirmed she has never met Lisa Marie Presley nor notarized any document for her.”

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