The failed attempt to sell Graceland in Memphis by an unidentified group remains shrouded in mystery.
The supposed investment firm faces legal challenges, including a fraud lawsuit and scrutiny from state officials. The Elvis Presley fan community considers Graceland, his former home turned museum, sacred.
Questions persist about how often similar attempts occur to claim assets from elderly or deceased individuals. Legal experts note such cases are not uncommon.
“I haven’t heard of fraud targeting such a famous place, which is surprising,” said Nicole Forbes Stowell, a law professor at the University of South Florida. “But it’s sadly familiar to those who are targeted.”
Naussany Investments and Private Lending caused a stir by posting a foreclosure notice for the 13-acre Graceland estate.
Fans wait in line outside the home (Via Ben Brook/Shutterstock)
The notice claimed Promenade Trust, which manages the museum, owed $3.8 million from a 2018 loan. Riley Keough, Elvis Presley’s granddaughter, inherited the trust and home after her mother, Lisa Marie Presley, passed away in 2023.
According to the notice, Naussany alleged Lisa Marie Presley used Graceland as collateral for the loan. Keough filed a lawsuit in May, accusing Naussany of presenting fraudulent documents about the loan in September 2023. She sought a court order to stop the sale.
“Lisa Marie Presley never borrowed money from Naussany Investments or gave them a trust deed,” Keough’s attorney Jeff Germany stated in the lawsuit.
“This is a scam,” declared actor Priscilla Presley, Elvis’ former wife, on her social media platforms.
A court injunction on Wednesday, issued by Shelby County Chancellor JoeDae Jenkins, halted the sale scheduled for the following day. Jenkins suggested Elvis Presley’s estate could succeed in arguing that Naussany’s attempt to auction Graceland was fraudulent.
