Graceland is facing a foreclosure auction, but the Presley family says it’s a scam

Graceland

The investment company trying to take over Graceland in exchange for an unpaid loan is fraudulent, according to homeowner and Elvis Presley’s granddaughter, Riley Keough.

Graceland is scheduled to be auctioned on Thursday, but last week Keough filed a complaint in a Tennessee civil court blocking Naussany Investments and Private Lending LLC’s sale of the mansion-turned-museum, accusing Naussany of forged documents and non-existent documents.

Last September, Naussany produced documents showing that Lisa Marie Presley, Elvis’ daughter and former owner of Graceland, used the house as security for a $3.8 million loan when she signed a deed of trust in May 2018. According to the company, she defaulted on the loan before she died last January.

Keough claims Presley never gave Naussany Investments a deed of trust or made a loan for Graceland, and in the lawsuit he said they were “fraudulent and unenforceable.”

The purported notary of the documents, Kimberly Philbrick, stated that she did not notarize them. She filed an affidavit with Keough’s complaint this month, according to NPR. She said she had no idea why her signature was on the document because she had never encountered or authorized a document signed by Lisa Marie Presley.

“Naussany Investments & Private Lending LLC appears to be a fraudulent entity created to defraud Promenade Trust, the heirs of Lisa Marie Presley, or any purchaser of Graceland in the extrajudicial sale,” the lawsuit reads.

The phone number listed for Naussany in the lawsuit is inactive, and Kurt Naussany, who is listed in the lawsuit as the company’s owner, told NBC News that he left the number in 2015, although the lawsuit lists emails he sent from the company’s address in 2023 r.

Keough inherited her mother’s estate and in October became a trustee of The Promenade Trust, which owns all of Elvis’ estate.

Keough argues that Naussany Investments has no right to direct the sale and is asking the court to issue a permanent injunction to block the sale, declare the note and deed of trust to be fraudulent and provide other relief.

An injunction hearing will be held in the Shelby County Clerk’s Court on Wednesday at 9 a.m. ET. Meanwhile, the court temporarily blocked the sale of the property.

It is said that the value of this popular tourist destination in 2020 will be up to USD 500 million.