Tennessee’s attorney general is investigating a company’s attempt to sell Elvis Presley’s home, Graceland, at a foreclosure auction. The auction was halted by a judge after Presley’s granddaughter, Riley Keough, filed a lawsuit claiming fraud. The attorney general stated that the beloved tourist attraction became the target of Nausanny Investments and Private Lending, who tried to sell the property based on claims that Lisa Marie Presley had failed to repay a loan with Graceland as collateral.
The attorney general’s office has the authority to investigate and bring civil lawsuits in cases of alleged consumer fraud. However, their authority in criminal court is limited, usually left to local district attorneys. The district attorney’s office in Shelby County, Tennessee, where Graceland is located, stated that they are not currently investigating the case, and the Tennessee Bureau of Investigation has not been asked to investigate by the district attorney.
After the judge’s decision to issue an injunction against the proposed auction, a statement from a representative of the company suggested they would drop their claim. The Presley estate argued that the claim was based on fake documents. A public notice for the foreclosure sale of the 13-acre estate stated that Promenade Trust owes $3.8 million after failing to repay a 2018 loan. Keough inherited the trust and ownership of Graceland after her mother’s death last year.
The lawsuit filed by Keough alleged that Naussany Investments presented fraudulent documents regarding the loan. The company denied the lawsuit’s allegations and opposed the estate’s request for an injunction. Naussany did not immediately respond to a request for comment. A statement from the company after the ruling indicated they would not proceed further due to legal actions being required in multiple states for recorded documents obtained elsewhere.
The court documents revealed discrepancies in the company’s addresses listed in Florida and Missouri, with both being post offices. The notary listed on Naussany’s documents indicated she never met Lisa Marie Presley nor notarized any documents for her. The judge raised concerns about the authenticity of the signature on the documents. Graceland has been a popular tourist attraction since opening in 1982, drawing hundreds of thousands of visitors each year. The estate assured that Graceland will continue to operate as usual, providing the best experience for Elvis fans worldwide.
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