Graceland Narrowly Avoids A Potentially Fraudulent Foreclosure Auction

MEMPHIS (CelebrityAccess) — Tennessee’s Attorney General announced on Thursday that his office is investigating a company that attempted to sell Graceland, the former home of rock icon Elvis Presley, in a foreclosure auction.

According to a statement by Tennessee Attorney General Jonathan Skrmetti, the Memphis home-turned museum nearly went to auction after Nausanny Investments and Private Lending, LLC claimed that Presley’s daughter, the late Lisa Marie Presley, had failed to repay a loan that used the house for collateral.

Shelby County Chancellor JoeDae Jenkins issued an injunction on May 22nd, blocking an auction of the property that was scheduled to take place on May 23rd, the Associated Press reported.

“Graceland is one of the most iconic landmarks in the State of Tennessee, and the Presley family have generously shared it with the world since Elvis’s passing,” said Tennessee Attorney General Jonathan Skrmetti. “Elvis made Memphis the center of the music universe, and Graceland stands as a monument to his legacy and a fond remembrance for his family. My office has fought fraud against homeowners for decades, and there is no home in Tennessee more beloved than Graceland. 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.”

Presley’s granddaughter Riley Keough filed a lawsuit in which she alleged that Naussany presented fraudulent documents regarding the loan in September 2023, and refuted the investment company’s claim that Lisa Marie Presley had obtained a loan fron Nausanny.

“Lisa Maria Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments,” Keough’s lawyer wrote in a lawsuit, obtained by the Associated Press.

A rep for Nausanny Investments and Private Lending, LLC could not be reached for comment on the matter.

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