Riley Keough Files Lawsuit to Halt Foreclosure on Elvis Presley’s Graceland

Riley Keough Files Lawsuit to Halt Foreclosure on Elvis Presley’s Graceland - Adobe Stock Image by Mindaugas Dulinskas Photo Source: Adobe Stock Image by Mindaugas Dulinskas

Actress Riley Keough, the granddaughter of Elvis Presley, has initiated legal action to prevent the foreclosure sale of the iconic Graceland mansion, labeling the proceedings as “fraudulent.”

In a lawsuit filed in Tennessee court last week, Keough alleges that the foreclosure was prompted by false claims from a company called Naussany Investments. The company asserts that her late mother, Lisa Marie Presley, borrowed $3.8 million and used Graceland as collateral. However, Keough’s legal team contends that the loan documents provided by Naussany, which bear Lisa Marie’s signature, are “forgeries” and that Lisa Marie "did not in fact sign the documents."

“These documents are fraudulent,” Keough’s attorneys stated in their May 15 complaint, obtained by Billboard. “Lisa Marie Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments.”

Graceland's foreclosure sale was initially set for Thursday, but Keough’s attorneys secured a temporary restraining order last week, halting any sale until the court can rule on the matter. A hearing is scheduled for Wednesday to address Keough’s request for a longer-term injunction to block the sale.

Attempts to reach Naussany Investments & Private Lending LLC for comment were unsuccessful. An attorney for Keough declined to comment on the case. The Memphis Commercial Appeal first reported the lawsuit on Monday.

Elvis Presley’s Graceland, a historic site in Memphis, generates millions in annual revenue as a major tourist attraction. Upon Elvis's death in 1977, his daughter Lisa Marie inherited his estate, including Graceland. She managed the property through the Promenade Trust until her death last year, after which Keough assumed control as trustee.

According to the lawsuit, Naussany Investments claims it made the multi-million dollar loan to Lisa Marie in 2018 and recorded the transaction in Florida. However, Keough’s lawyers argue that Naussany is “a false entity created for the purpose of defrauding the Promenade Trust,” orchestrated by an individual named Kurt Naussany, who has sent “numerous emails seeking to collect the purported $3.8 million debt.”

Keough’s legal team presents strong evidence suggesting the documents are forgeries, including a statement from the notary purportedly involved in the transaction, who confirmed that she did not notarize the documents. “Indeed, she confirmed she has never met Lisa Marie Presley nor notarized any document for her,” the complaint states.

The case hinges on whether the court finds the loan documents to be legitimate or fraudulent. The outcome will determine if Graceland can remain under Keough’s control or if it will be subject to the alleged loan’s foreclosure terms.

Lawrence J. Tjan
Lawrence J. Tjan
Lawrence is an attorney with practical experience in corporate and general business legal matters, as well as law practice management. His litigation experience includes issues dealing with antitrust, bad faith and medical malpractice. His transactional experience includes buy-sell agreements, Reg D disclosures, investor subscription agreements, and stock option plans.
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