Auction for Elvis Presley's Graceland mansion withdrawn after judge blocks sale because of fraud allegations
Company withdraws 'all claims with prejudice'
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A company intending to auction Elvis Presley’s iconic Graceland mansion in Memphis, Tennessee, withdrew the plan on Wednesday following a state judge’s move to block the sale because of fraud allegations.
Reuters learned through a representative of Naussany Investments & Private Lending that it would be withdrawing all its claims over Graceland.
The statement was issued after a judicial hearing, where Shelby County Chancellor JoeDae Jenkins issued an injunction halting the foreclosure sale.
A legal notice was issued earlier this month, indicating the historic home would be going up for foreclosure auction on Thursday.
Elvis Presley’s Graceland is a museum dedicated to the King of Rock ‘n’ Roll. (Courtesy of Elvis Presley’s Graceland / Fox News)
The notice stated that Lisa Marie Presley, Elvis’s late daughter, allegedly signed a deed of Trust in 2018, securing a $3.8 million loan via a company called Naussany Investments and Private Lending, using Graceland as collateral.
The company claimed Lisa Marie Presley never paid back that money before she died last year, and the firm initiated plans for Elvis' former home in Memphis, as well as its surrounding acreage on Elvis Presley Boulevard, to be sold to the highest bidder at a foreclosure sale. The mansion, which is now a museum, is located in the city's Whitehaven area.
The singer’s family has disputed the legality of the purported sale and claimed it was fraudulent.
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Elvis Presley's Graceland estate was slated to be auctioned, but has apparently escaped the gavel for now. (RB/Redferns / Getty Images)
Riley Keough, who inherited the home after her mother’s death, sued Naussany and asserted her mother never took out the loan, accusing Naussany of fraud.
"These documents are fraudulent," the lawsuit states.
Priscilla Presley, Lisa Marie’s mother and Elvis’s ex-wife, blasted the legal notice on social media. "It’s a scam," she wrote on X.
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Keough inherited Graceland after reaching a settlement with Priscilla Presley, right, in court. (Kevin Mazur/Getty Images / Getty Images)
The notary public listed on Naussany’s documents alleged in an affidavit attached to the lawsuit that she never met Lisa Marie Presley or notarized her signature.
Jenkins said Wednesday that the notary’s statement "brings in the question as to the authenticity of the signature," as well as whether the underlying document is fraudulent.
Elvis Presley Enterprises, Inc., which operates Graceland, released a statement after learning about the foreclosure auction being canceled.
"As the court has now made clear, there was no validity to the claims," the statement read. "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 have the best in class experience when visiting his iconic home."
Gregory Naussany, whose role in the company is not clear, told Reuters the company would be "withdrawing all claims with prejudice."
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Naussany also said the company’s decision came after consulting with its attorneys, concluding it would have to file actions in multiple states because the alleged loan was secured in Florida.
Fox News Digital’s Michael Dorgan and Reuters contributed to this report.