Elvis' estate fights 'fraudulent' auction of Graceland

Adrian Sainz
2 Min Read
Elvis Presley’s granddaughter Riley Keough has sought a temporary restraining order and filed a lawsuit, court documents show.
Elvis Presley’s granddaughter Riley Keough has sought a temporary restraining order and filed a lawsuit, court documents show. Credit: BANG - Entertainment News

Elvis Presley’s estate is fighting what it says is a fraudulent scheme to auction off Graceland to the highest bidder.

An auction had been scheduled for Thursday this week, but a Memphis judge blocked it after Presley’s granddaughter Riley Keough sought a temporary restraining order and filed a lawsuit, court documents show.

A public notice for a foreclosure sale of the 5.3 hectare estate in Memphis posted earlier in May said Promenade Trust, which controls the Graceland museum, owes $US3.8 million ($A5.7 million) after failing to repay a 2018 loan.

Sign up to The Nightly's newsletters.

Get the first look at the digital newspaper, curated daily stories and breaking headlines delivered to your inbox.

Email Us
By continuing you agree to our Terms and Privacy Policy.

Keough, an actress, inherited the trust and ownership of the home after the death of her mother, Lisa Marie Presley, in 2023.

Naussany Investments and Private Lending said Lisa Marie Presley had used Graceland as collateral for the loan, according to the foreclosure sale notice. Keough, on behalf of the Promenade Trust, sued last week, claiming that Naussany presented fraudulent documents regarding the loan in September 2023.

“Lisa Marie Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments,” Keough’s lawyer wrote in a lawsuit.

Fans gather in Memphis for Elvis Week
Graceland is the second-most visited home in the United States, behind only the White House. Credit: AP

Kimberly Philbrick, the notary whose name is listed on the documents, indicated she never met Lisa Marie nor notarised any documents for her, the court filing said. The Associated Press texted Philbrick at numbers believed to be hers, but she didn’t immediately respond.

W. Bradley Russell, a lawyer for Keough, declined comment Tuesday.

Kurt Naussany, who was identified in court documents as a defendant, directed questions in an email to Gregory Naussany. Gregory Naussany told the AP in an email: “The attorneys can make comment!” Court records do not show a lawyer for the company.

The court documents included addresses for the businesses in Jacksonville, Florida, and Hollister, Missouri. Both were for post offices. A Kimberling City, Missouri, reference was for a post office box.

An injunction hearing is scheduled for Wednesday in Shelby County Chancery Court.

“Elvis Presley Enterprises can confirm that these claims are fraudulent. There is no foreclosure sale. Simply put, the counter lawsuit has been filed is to stop the fraud,” Elvis Presley Enterprises said in a statement on Tuesday.

Graceland opened as a museum and tourist attraction in 1982 as a tribute to Elvis Presley, the singer and actor who died in August 1977 aged 42. It draws hundreds of thousands of visitors each year. A large Presley-themed entertainment complex across the street from the museum is owned by Elvis Presley Enterprises.

Latest Edition

The front page of The Nightly for 14-06-2024

Latest Edition

Edition Edition 14 June 202414 June 2024

Tesla investors deliver Elon Musk an 11-cylinder salary.