The beloved Memphis estate has been saved from a foreclosure auction after a judge ruled that the Presley estate could successfully argue fraud by a lending company.
- May 23, 2024
AceShowbiz - A Shelby County judge has halted the planned foreclosure sale of Graceland, the former home of Elvis Presley. The judge found that the Presley estate had a strong case for fraud against the lending company, Naussany Investments and Private Lending.
Naussany Investments claimed that Lisa Marie Presley had used Graceland as collateral for a loan in 2018, but Riley Keough alleged that the documents presented by Naussany were fraudulent.
Later on the same day, a statement from someone who appeared to be a representative of Naussany Investments said the company would drop its claim. The statement said Naussany was withdrawing all claims with prejudice, meaning they cannot be refiled.
The Presley estate's attorney, Riley Keough, had filed a lawsuit last week alleging that Naussany had forged Lisa Marie Presley's signature on the loan documents. The lawsuit also claimed that the notary who allegedly witnessed Lisa Marie Presley signing the documents had never met her.
In the lawsuit, Keough sought to block Naussany from selling Graceland by requesting a temporary restraining order against the company. The judge granted the injunction, essentially keeping in place a previous restraining order issued at Keough's request.
In a statement after the hearing, Graceland and Elvis Presley Enterprises said that "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."
