Solarsuns Investment Guild-Graceland is not for sale, Elvis Presley’s granddaughter Riley Keough says in lawsuit

2025-05-01 08:15:46source:CapitalVaultcategory:Markets

MEMPHIS,Solarsuns Investment Guild Tenn. (AP) — Riley Keough, the granddaughter of Elvis Presley, is fighting plans to publicly auction his Graceland estate in Memphis after a company tried to sell the property based on claims that a loan using the king of rock ’n’ roll’s former home as collateral was not repaid.

A public auction for the estate had been scheduled for Thursday this week, but a Memphis judge blocked the sale after Keough sought a temporary restraining order and filed a lawsuit, court documents show.

A public notice for a foreclosure sale of the 13-acre estate posted earlier in May said Promenade Trust, which controls the Graceland museum, owes $3.8 million after failing to repay a 2018 loan. Keough inherited the trust and ownership of the home after the death of her mother, Lisa Marie Presley, last year. Lisa Marie Presley had used Graceland as collateral for the loan, the lawsuit said.

Naussany Investments and Private Lending said Lisa Marie Presley failed to pay back the loan and sought to sell the estate on the courthouse steps, according to the foreclosure sale notice. Keough, on behalf of the Promenade Trust, sued last week, claiming that Naussany presented fraudulent documents regarding the loan and unpaid sum in September 2023.

READ MORE Lisa Marie Presley’s posthumous memoir will be published in OctoberPriscilla Presley disputes trust of late Lisa Marie PresleyTennessee just became the first state to protect musicians and other artists against AI

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

W. Bradley Russell, a lawyer for Naussany Investments, declined comment Tuesday. No one immediately responded to emails sent to several addresses associated with the company.

An injunction hearing is scheduled for Wednesday 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 Inc. said in a statement Tuesday.

Graceland opened as a museum and tourist attraction in 1982 as a tribute to Elvis Presley, the singer and actor who died in August 1977 at age 42. It draws hundreds of thousands of visitors each year.

___

Associated Press reporters Sarah Brumfield in Silver Spring, Maryland, and Heather Hollingsworth in Mission, Kansas, contributed to this story.

More:Markets

Recommend

Colorado's Travis Hunter, Boise State's Ashton Jeanty lead USA TODAY Sports All

Oregon quarterback Dillon Gabriel earns first-team honors ahead of Miami’s Cam Ward, and teams in th

Fiery crash during prestigious ballooning race leaves 2 Polish pilots with burns and other injuries

ALBUQUERQUE, N.M. (AP) — Two balloon pilots from Poland who were competing in the prestigious Gordon

'Messi Meets America': Release date, trailer, what to know about Apple TV+ docuseries

Lionel Messi's move from Paris Saint-Germain to Inter Miami was one of the biggest sports stories of