In a dramatic turn of events, the planned foreclosure sale of Graceland, the iconic home of the late Elvis Presley, has been halted by a Memphis judge. The decision came after allegations of fraud were raised by Presley's granddaughter, actress Riley Keough.
Keough filed a lawsuit against Naussany Investments and Private Lending LLC, the company behind the planned sale, accusing them of fraudulent activities. The company had claimed that Lisa Marie Presley, Keough's late mother and Elvis' daughter, had used the Graceland deed as collateral for a $3.8 million loan. However, Keough's lawsuit alleges that the documents pertaining to this loan are "fraudulent" and contain "forgeries" of Lisa Marie's signatures.
"The court will enjoin the sale as requested because, one, the real estate is considered unique under Tennessee law,” the judge said. “And in being unique, the loss of the real estate would be considered irreparable harm.”
The lawsuit further alleges that Naussany "appears to be a false entity created for the purpose of defrauding" the trust that owns Graceland. Keough became the main trustee after a complicated dispute with her grandmother, Priscilla, following Lisa Marie’s death last year.
Adding to the intrigue, the lawsuit includes an affidavit from a Florida notary, Kimberly Philbrick, whose signature appears on several documents related to Lisa Marie’s alleged loan. Philbrick stated, “I have never met Lisa Marie Presley, nor have I ever notarized a document signed by Lisa Marie Presley.”
Following the ruling, Elvis Presley Enterprises told Rolling Stone, “As the court has now made clear, there was no validity to the claims. There will be no foreclosure. Graceland will continue to operate as it has for the past 42 years, ensuring that Elvis fans from around the world can continue to have a best in class experience when visiting his iconic home.”
Attempts to reach Naussany Investments for comment have been unsuccessful, with emails returning automated out-of-office responses and phone calls leading to disconnected lines. The company will now have time to mount a defense against the fraud allegations.
The future of Graceland, a beloved Memphis tourist attraction and a symbol of Elvis Presley's enduring legacy, remains secure for now. The mansion, which opened to the public as a museum in 1982, draws hundreds of thousands of visitors each year. As the case against Naussany Investments continues, fans of the King of Rock 'n' Roll can rest easy knowing that Graceland is in safe hands.
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