Elvis Presley’s Graceland Home Saved After Judge Orders Pause on Foreclosure Sale ONE DAY Before Controversial Auction
Elvis Presley’s Graceland was temporarily saved this week after a judge paused an imminent foreclosure sale of the iconic Tennessee property.
May 22 2024, Published 12:03 p.m. ET
Elvis Presley’s Graceland was temporarily saved this week after a judge paused an imminent foreclosure sale of the iconic Tennessee property, RadarOnline.com can report.
In a sudden development to come one day before Graceland was scheduled to be auctioned off to the highest bidder on Thursday, Chancellor JoeDae Jenkins ruled that the historic Memphis home could stay in the hands of the Presley family for the time being.
People connected to Graceland reportedly have a suspect who they believe is behind the fraud scandal.
According to the New York Post, Chancellor Jenkins cited concerns and evidence that the company pushing to sell the property, Naussany Investments and Private Lending LLC, may have forged the documents that gave the company the right to unload the iconic home and its surrounding properties.
As RadarOnline.com previously reported, Graceland was facing a foreclosure auction due to a $3.8 million loan that Elvis’ late daughter, Lisa Marie Presley, allegedly failed to repay before her death early last year.
Although the property located on Elvis Presley Boulevard in Memphis, Tennessee was initially scheduled to be sold to the highest bidder on Thursday, Lisa Marie's daughter and Elvis' granddaughter – Riley Keough – contested the court-approved sale.
The dispute revolved around Naussany Investments and Private Lending's claim that Lisa Marie used Graceland as collateral for a $3.8 million loan back in 2018.
Graceland was facing a foreclosure auction due to a $3.8 million loan that Elvis’ late daughter, Lisa Marie Presley, allegedly failed to repay before her death early last year.
Naussany Investments and Private Lending argued that Lisa Marie never settled the debt before her death at the age of 54 in January 2023.
Keough, now the sole heir of Graceland, argued that the loan documents in Naussany Investments and Private Lending’s possession were "fraudulent.”
Lisa Marie’s daughter also alleged that certain signatures were forged, and she questioned the overall legitimacy of Naussany Investments.
"These documents are fraudulent,” Keough, 34, asserted in a 60-page lawsuit filed in Shelby County Chancery Court back on May 15.
Riley Keough, now the sole heir of Graceland, argued that the loan documents in Naussany Investments and Private Lending’s possession were "fraudulent.”
Keough further claimed that the lawyer involved in Naussany Investments’ property deed denied a genuine verification of Lisa Marie's signature. The lawyer also reportedly denied ever having shared any encounter with the Lisa Marie before her death in January 2023.
Elvis Presley Enterprises, the entity that manages both Graceland and the Elvis Presley Trust assets, also refuted the loan allegations. Elvis Presley Enterprises, like Keough, declared the company's claims "fraudulent."
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“Elvis Presley Enterprises can confirm that these claims are fraudulent. There is no foreclosure sale,” the entity said in a statement shortly before Wednesday’s injunction hearing.
“Simply put,” the entity continued, “the counter lawsuit that has been filed is to stop the fraud.”
“It’s a scam!” Priscilla Presley charged on X late Monday night.
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Priscilla Presley – Elvis’ ex-wife, Lisa Marie’s mother, and Keough’s grandmother – also chimed in on the matter. She called Naussany Investments and Private Lending’s efforts to sell Graceland a “scam.”
“It’s a scam!” Priscilla Presley charged on X late Monday night.
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