Elvis Presley’s estate is embroiled in a legal battle over an alleged fraudulent scheme to auction off Graceland.
The auction, originally scheduled for this week, has been blocked by a Memphis judge following a lawsuit and a temporary restraining order filed by Presley’s granddaughter, Riley Keough, according to court documents.
A public notice posted earlier this month announced a foreclosure sale of the 5.3-hectare Memphis estate, citing a $US3.8 million ($A5.7 million) debt owed by the Promenade Trust, which manages the Graceland museum, according to The Canberra Times and Australian Associated Press.
The debt stems from a 2018 loan.
Keough, an actress who inherited the trust and the Graceland property after her mother Lisa Marie Presley’s death in 2023, has contested the foreclosure.
According to the foreclosure notice, Naussany Investments and Private Lending claimed Lisa Marie Presley used Graceland as collateral for the loan.
However, Keough’s lawsuit alleges Naussany presented fraudulent loan documents in September 2023.
“Lisa Marie Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments,” Keough’s lawyer stated in the lawsuit.
Kimberly Philbrick, the notary named in the documents, reportedly never met Lisa Marie Presley nor notarised any documents for her, according to court filings. The Associated Press attempted to contact Philbrick but received no response.
Keough’s lawyer, W. Bradley Russell, also declined to comment.
Kurt Naussany, listed as a defendant, referred inquiries to Gregory Naussany, who replied via email, “The attorneys can make comment!” No attorney for the company is listed in court records.
Addresses for the involved businesses were linked to post offices in Jacksonville, Florida, and Hollister, Missouri, with another in Kimberling City, Missouri, also tied to a post office box.
An injunction hearing is scheduled this week in Shelby County Chancery Court.
“Elvis Presley Enterprises can confirm that these claims are fraudulent. There is no foreclosure sale. Simply put, the counter lawsuit has been filed is to stop the fraud,” Elvis Presley Enterprises stated.
Graceland, opened as a museum in 1982, serves as a tribute to Elvis Presley, who died in August 1977 at age 42.
The estate attracts hundreds of thousands of visitors annually, and a large Presley-themed entertainment complex across from the museum is owned by Elvis Presley Enterprises.
