Elvis Presley’s granddaughter has initiated legal action against the investment firm attempting to foreclose on the iconic Graceland home in Memphis, Tennessee. She is accusing the firm of fraud and argues that they have no legitimate claim to the property.
Danielle Riley Keough, an actress and daughter of Lisa Marie Presley, is the present owner of Graceland. She secured a restraining order to prevent any sale before legal proceedings can determine the validity of her fraud allegations against Naussany Investments & Private Lending LLC, the firm pursuing the foreclosure, as reported by CNN.
The firm asserts that Keough’s mother, Lisa Marie Presley, borrowed $3.8 million from them and provided a deed of trust as security for the loan. Lisa Marie passed away in January 2023.
However, Keough’s attorney disputes the authenticity of the documents provided by Naussany Investments.
“These documents are fraudulent,” Keough claims in her lawsuit. “Lisa Marie Presley never borrowed money from Naussany Investments and never issued a deed of trust to Naussany Investments.”
The lawsuit also notes that the notary listed on the document “never met Lisa Marie Presley nor notarized any document for her.”
Keough’s legal complaint further alleges that Naussany Investments “seems to be a fictitious entity established for fraudulent purposes.”
CNN mentioned that efforts to contact Naussany Investments were unsuccessful, and the company’s listed phone number is no longer operational.
Naussany Investments has attempted to assert ownership of Graceland and intended to auction the property on May 23. Keough managed to obtain an injunction to halt this action.
Elvis Presley Enterprises, the organization that oversees the Presley estate and organizes tours and events at Graceland, also declared the documents from Naussany Investments to be fraudulent.
“Elvis Presley Enterprises can confirm these claims are fraudulent,” the company stated. “There is no foreclosure sale. Simply put, the counter lawsuit filed is to stop the fraud.”
Keough’s next court hearing is scheduled for Wednesday in Shelby County, Tennessee.
Graceland is the second-most visited home in America, only behind the White House. According to court records, Lisa Marie earned millions annually from the property. The estate is valued at approximately $500 million, according to Elvis Presley Enterprises.
