Memphis judge Graceland postponed its planned foreclosure sale after Elvis’ granddaughter, actress Riley Keough, accused the company behind the sale of fraud.
The ruling was issued on Wednesday, May 22, one day before the scheduled sale ABC 24 In Memphis Reports. “The court will order the sale as required, because the property is considered unique under Tennessee law,” the judge said. “Being unique, the loss of the property is considered irreparable damage.”
Keogh sought an injunction in a lawsuit filed against Naussany Investments and Private Lending LLC earlier this month. The creditor placed a lien on Graceland and scheduled a sale, claiming that Keough’s mother, Lisa Marie Presley, had put up the deed to the mansion as collateral for a $3.8 million loan.
But Keough’s lawsuit claimed Nosani “appears to be a sham entity created for the purpose of defrauding” the trust that owns Graceland (Keough became lead trustee after a complicated dispute with her grandmother, Priscilla, in the wake of Lisa Marie’s death last year). She further claimed that documents relating to Lisa Marie’s alleged loan were “fraudulent” and contained “forgery” of her signatures.
“Lisa Marie Presley never borrowed money from Naussany Investments and never provided a deed of trust to Naussany Investments,” the lawsuit states.
Furthermore, the lawsuit contains an affidavit from a Florida notary public, whose signature appears on several documents related to Lisa Marie’s alleged loan, including a promissory note and a deed of trust naming Graceland as collateral. But the notary, Kimberly Philbrick, said: “I have never met Lisa Marie Presley, nor have I notarized a document signed by Lisa Marie Presley.” (Philbrick wasn’t sure why her signature appeared on the documents.)
Following Wednesday’s ruling, Elvis Presley Enterprises said Rolling Stone“As the court has now made clear, there was no truth to these claims. There will be no foreclosure. Graceland will continue to operate as it has for the past 42 years, ensuring that Elvis fans from around the world can continue to enjoy a best-in-class experience when visiting His famous house.
As for Al Nousani Investments, Rolling Stone She attempted to reach out to the company email referenced in one of the documents included in Keough’s lawsuit, and did not receive an immediate response. Other media outlets were similarly puzzled: CNN said her email returned an out-of-office automated reply, while her attempts to contact Nosani by phone resulted in a hang-up. NBC News She said she was able to reach Kurt Nosani, the defendant, via email, but he claimed he left the company in 2015 and should not be involved in the lawsuit.
Following Wednesday’s ruling, it is not clear when the case against Nosani will be resumed, as the company will now have enough time to defend against the fraud allegations.
This story was updated 05/22/24 at 11:33 a.m. following the court ruling on the Graceland foreclosure sale.
“Lifelong beer expert. General travel enthusiast. Social media buff. Zombie maven. Communicator.”