Lender Drops Foreclosure Claim on Graceland Amid Suspicion

There are indications loan signature was fraudulent
By Arden Dier,  Newser Staff
Posted May 23, 2024 6:22 AM CDT
Amid Suspicion, Lender Drops Its Graceland Foreclosure Claim
Fans wait in line outside Graceland Tuesday, Aug. 15, 2017, in Memphis, Tenn.   (AP Photo/Brandon Dill, File)

The lending company that planned to auction off Graceland, Elvis Presley's former mansion and burial place, is withdrawing all claims to the property after allegations of fraud, per Reuters. Naussany Investments and Private Lending sought a public auction of the iconic Memphis property, claiming previous owner Lisa Marie Presley owed $3.8 million on a loan that used Graceland as collateral when she died last year, leaving the home to her daughter, Riley Keough. But a company rep now says Naussany Investments will withdraw all claims to Graceland. Keough successfully sued to halt the foreclosure sale, claiming her mother never took out such a loan or provided a deed of trust. She noted Naussany may not even be "a real entity," per People.

In a sworn affidavit, "the notary public listed on Naussany's documents said she never met Lisa Marie Presley or notarized her signature," per Reuters. A judge said that put the authenticity of the documents in doubt and halted the case until Naussany could respond. In an email to the Commercial Appeal, Gregory Naussany said the company consulted with its lawyers and decided not to proceed with its claims. He accused Lisa Marie Presley of "mishandling money and not paying her obligations" but noted "due to the Deed of Trust not being recorded and the loan being obtained in different state [Florida], legal action would have to be filed in multiple states." In a statement, Graceland operator Elvis Presley Enterprises said it was clear "there was no validity to the claims." (More Graceland stories.)

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