Attorneys for the actress Riley Keough, the granddaughter of Elvis Presley, have sued to cease what they are saying is a fraudulent scheme to promote Graceland, the household’s cherished former house in Memphis.
Court docket papers that Ms. Keough’s legal professionals filed this month declare that an organization planning to public sale off Graceland is fraudulently claiming that her mom — Elvis’s daughter, Lisa Marie Presley, who died in 2023 — had borrowed cash and put Graceland up as collateral. The papers say that the corporate, Naussany Investments & Non-public Lending LLC, “seems to be a false entity” and that the paperwork it offered in regards to the mortgage have been additionally pretend.
“There is no such thing as a foreclosures sale,” Elvis Presley Enterprises, which operates Graceland, stated in a press release, wherein it additionally stated that the lawsuit had been filed to “cease the fraud.”
Graceland, a preferred vacationer attraction, is a significant supply of earnings for Elvis Presley Enterprises and the household belief.
A consultant for Ms. Keough, who controls her household’s belief, didn’t instantly reply to a request for touch upon Tuesday. A lawyer representing Keough within the case additionally didn’t reply.
Months after Lisa Marie Presley died, Naussany Investments offered paperwork claiming that she had borrowed $3.8 million from the corporate and “gave a deed of belief encumbering Graceland as safety,” in accordance with courtroom papers filed in Shelby County, Tenn. Copies of the paperwork have been offered to The New York Instances by Elvis Presley Enterprises.
Naussany Investments had scheduled a sale of Graceland for Thursday, the courtroom papers say. However after Ms. Keough’s legal professionals argued that the deed was fraudulent, the courtroom issued a restraining order barring any sale, in accordance with the paperwork. The paperwork say a listening to has been scheduled for Wednesday.
Makes an attempt to achieve Naussany Investments by means of the e-mail addresses and telephone numbers listed for the corporate within the courtroom paperwork weren’t instantly profitable. One listed telephone quantity was stated to be not in service.
Final yr, Ms. Keough and her grandmother Priscilla Presley engaged in a monthslong authorized battle that finally left Ms. Keough as the only real trustee of the monetary instrument established by her mom, the Promenade Belief.
At the same time as payments have generally mounted, the household has held on to the primary home at Graceland — an eight-bedroom, eight-bath Colonial revival house in Memphis that served as Elvis Presley’s private house from 1957 till his demise, in 1977, on the age of 42. The home was appraised at $5.6 million in 2021.
However Graceland has turn into value way more as a vacationer attraction. In 2022, operations at Graceland generated not less than $80 million, most of which helps Elvis Presley Enterprises. The household belief retains 15 % of Elvis Presley Enterprises.
