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Report: Tennessee AG Looking Into Company in Graceland Foreclosure Attempt

by Sandra Rhodes
May 24, 2024 at 1:47 pm
in Entertainment, FaithTap, News
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Elvis’ Granddaughter Fighting for Graceland Amid Foreclosure 

Visitors queue to enter the Graceland mansion of Elvis Presley on August 12, 2017 in Memphis, Tennessee. Elvis Presley, American icon and King of rock n roll, transformed popular culture, sold over a billion records and is idolized as ever on the 40th anniversary of his tragic death. His Graceland mansion in Memphis, Tennessee -- the second most famous home in the United States after the White House -- expects more than 50,000 people to descend for the biggest ever annual celebration of his life 40 years after his death aged 42 on August 16, 1977. / AFP PHOTO / Mandel Ngan (Photo credit should read MANDEL NGAN/AFP via Getty Images)

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Tennessee’s attorney general is investigating the company that attempted to put Graceland on the auction block.

The auction, which was scheduled for May 22, was halted after a lawsuit was filed by Elvis Presley’s granddaughter, Riley Keough, who alleged fraud by Nausanny Investments and Private Lending, the Associated Press reported.

Attorney General Jonathan Skrmetti said the Memphis tourist attraction “became the target” of Nausanny when it tried to sell Graceland. The company claimed Lisa Marie Presley, Presley’s only child, put up Graceland as collateral in a $3.8 million loan deal, which she did not pay back.

On May 21, Shelby County Chancellor JoeDae Jenkins issued an injunction against the auction.

“Tennessee’s appointed attorney general can investigate and bring civil lawsuits, including in instances of alleged consumer fraud,” per the AP. “His authority in criminal court is significantly more limited, usually reserved for representing the state during appeals. Local district attorneys, who are elected, bring criminal cases.”

“My office has fought fraud against homeowners for decades, and there is no home in Tennessee more beloved than Graceland,” Skrmetti, a Republican, said. “I have asked my lawyers to look into this matter, determine the full extent of any misconduct that may have occurred, and identify what we can do to protect both Elvis Presley’s heirs and anyone else who may be similarly threatened.”

On the criminal side, the district attorney’s office in Shelby County said it was not currently investigating.

A spokesperson for the Tennessee Bureau of Investigation said it hasn’t been asked by the Shelby County district attorney to investigate. An FBI Memphis spokesperson said the agency does not comment on the possibility or likelihood of investigations.

After the judge’s decision, a statement from someone who is allegedly from Nausanny said it would drop its claim.

The Presley estate argued the foreclosure was based on fake documents. 

“Online court records did not immediately show any legal filings suggesting the claim had been dropped,” the AP reported.

Keough, an actress, inherited the home after the death of her mother, Lisa Marie Presley, in 2023.

A lawsuit filed by Keough claimed Naussany used fraudulent documents regarding the loan.

“Lisa Maria Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments,” Keough’s lawyer said in a lawsuit.

Kimberly Philbrick, the allegedly notarized the documents, said she never met Lisa Marie Presley nor notarized the documents, according to the estate’s lawsuit. 

“The judge said the notary’s affidavit brings into question ‘the authenticity of the signature,’” per the AP.

Tags: elvis presleyForeclosureGracelandNaussany Investments & Private Lending LLCRiley KeoughU.S. News
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Sandra Rhodes

Sandra Rhodes

IJR, Contributor Writer She was a Story Editor for Indpendent Journal Review since November 2022 and has written for IJR since February 2024. She has been in the newspaper business in various capacities since 1998.

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