Graceland Sale Blocked as Elvis Presley Heir Fights ‘Fraudulent’ Foreclosure
Written by djfrosty on May 22, 2024
Elvis Presley’s granddaughter Riley Keough won a court order Wednesday blocking a looming foreclosure sale of the late singer’s historic Memphis home Graceland, after her attorneys argued that the bizarre effort to sell the home was “fraudulent.”
At a hearing in Memphis court, Chancellor JoeDae Jenkins granted Keough’s request for a preliminary injunction that will block the mysterious foreclosure proceeding – initially set for Thursday – until he can rule on her case, according to court records reviewed by Billboard.
As reported by CNN, the judge said during the hearing that Keough would likely win her arguments — and that allowing the sale of the legendary mansion to go through in the meantime would cause her so-called irreparable harm.
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“The estate is considered unique under Tennessee law, and in being unique the loss of the real estate will be considered irreparable harm,” Jenkins said in the hearing.
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.”
Naussany (Naussany Investments & Private Lending LLC) could not immediately be located for comment on Wednesday’s order. An attorney for Keough also did not return a request for comment.
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.”
Following Wednesday’s ruling, the case will now proceed toward more detailed litigation over the Keough’s allegations, and eventually toward a final ruling.