Elvis Presley’s granddaughter, Riley Keough, is contesting a foreclosure auction of Elvis’s iconic Graceland estate in Memphis, Tennessee.
A company called Naussany Investments claims it loaned Elvis’ daughter, Lisa Marie Presley, $3.8 million in 2018. The company alleges she used Graceland as collateral to secure the loan.
Naussany Investments claims Lisa Marie never paid back the loan before she died in January 2023.
The famed estate, located on Elvis Presley Boulevard, was scheduled to be sold on the courthouse steps on May 23, to satisfy the debt.
But Riley is contesting the court-approved foreclosure.
In a 60-page lawsuit against Naussany Investments, Riley insists her mother never borrowed any money.
Riley, who inherited the estate when her mother died, is adamant that Naussany Investments forged Lisa Marie’s signature on the “fraudulent” loan documents.
She alleges that “the note and deed of trust are fraudulent and unenforceable.”
Riley, 34, also claims that Naussany Investments is not even “a real entity.” A phone number listed for Naussany was not in service.
According to the lawsuit, a notary denies that she notarized Lisa Marie Presley’s signature or met her.
A Tennessee judge granted a restraining order to block the auction and an injunction hearing is scheduled for Wednesday.
“Elvis Presley Enterprises can confirm that these claims are fraudulent. There is no foreclosure sale,” Graceland’s management company said in a statement. “Simply put, the counter lawsuit that has been filed is to stop the fraud.”
Riley’s grandmother and Elvis’ ex-wife Priscilla Presley commented on the foreclosure on Monday.
She posted a photo of the mansion on Instagram with big red letters that read: “It’s a scam!”
