In a case filled with intrigue, Elvis Presley’s storied domain, Graceland, has become the stage for a legal contretemps, as a whirlwind of accusations rises about an illicit scheme to auction off the legendary estate.
Notorious as the regal home of the King of Rock ‘n’ Roll, Graceland was tipped to go under the hammer this week. However, a last-minute intervention by Presley’s granddaughter, actress Riley Keough, gave rise to a judge in Memphis halting the proceedings, based on her allegations of fraudulent maneuvering to sell the estate to the moneyed party who waved the highest bid.
These dramatic events unfolded following a foreclosure notice earlier in May, which put the spotlight on the Promenade Trust, custodian of the Graceland museum. According to the notice, the trust had amassed a debt of $3.8 million by not reimbursing a loan secured in 2018. Keough, who had become an inheritor of the trust and estate following the death of her mother, Lisa Marie Presley, last year, was embroiled deeply in this drama.
The backdrop to this mounting debt was a narrative presented by Naussany Investments and Private Lending who claimed that, as collateral for the loan, Lisa Marie Presley had mortgaged Graceland. Keough sought remediation and initiated legal proceedings last week accusing Naussany of circulating fraudulent documents pertaining to this loan in late 2023.
Addressing the court, Keough’s legal representation stated, “Lisa Maria Presley never obtained a loan from Naussany Investments and conferred no deed of trust upon them.”
Additionally, tension increased as Kimberly Philbrick, the notary public referenced in these dubious documents, claimed in a court deposit that she never made Lisa Marie Presley’s acquaintance or provided her notarial services. Despite attempts to contact Philbrick, no immediate response came forth.
Defendants implicated in the lawsuit remain tight-lipped. Kurt Naussany, designated in the court documentation, redirected queries to Gregory Naussany, who passed the baton back to the lawyers to comment; the court papers disclosed no legal representation for the firm.
Elvis Presley Enterprises Inc., on Tuesday, delivered a statement acknowledging the fraud, assuring followers that there will not be a foreclosure sale and affirming that counter legal action has been initiated in response to the fraud.
Since 1982, Graceland has been a notable tribute to Elvis Presley, drawing countless visitors yearly from across the globe. The prominent Presley-centric entertainment complex opposite the museum is another asset managed by the Elvis Presley Enterprises.
A visitor from Queensland, Australia, Tim Marshall, who was outside Graceland’s gates on Tuesday touring the US with his partner, expressed his shock upon hearing the news of the attempted sale of Graceland, adding candidly, “I think it would be not very good if they lose it.”
Amidst all this commotion, an injunction hearing has been slotted for Wednesday in Shelby County Chancery Court.
As developments continue to unravel, the Elvis Presley world and its longtime admirers are keeping a close vigil on Graceland – the home of the King.
