Failed Graceland Sale Raises Questions About Attempted Asset Grab from Deceased Individuals

The failed attempt to sell off the iconic Graceland property in Memphis has left many scratching their heads as to the identity of the mysterious entity behind the gambit. The self-styled investment company, Naussany Investments and Private Lending, has come under fire from a lawsuit alleging fraud, an aggressive attorney general, and a community of Elvis Presley loyalists who consider the home-turned-museum to be sacred ground.

The saga began when a public notice for a foreclosure sale of the 13-acre Graceland estate was posted, claiming that Promenade Trust, which controls the museum, owed $3.8 million after failing to repay a 2018 loan. Riley Keough, Elvis Presley’s granddaughter, inherited the trust and ownership of the home after her mother, Lisa Marie Presley, passed away in 2023. Keough filed a lawsuit alleging that Naussany presented fraudulent documents regarding the loan and sought to block the sale to the highest bidder.

The legitimacy of Naussany’s claims came into question when a Florida notary, Kimberly Philbrick, stated in an affidavit that she never met Lisa Marie Presley or notarized any documents for her. Furthermore, the lender’s existence could not be verified beyond an email address and court filing signed by a Gregory Naussany. Court documents listed company addresses that turned out to be post offices, and the business was not registered in state databases.

After an injunction halted the sale, Naussany issued a statement saying it would drop its claim due to legal complications involving multiple states. However, the lawsuit and legal filings have not been officially dropped, leaving many unanswered questions about the true intentions behind the failed sale.

Experts say that fraudulent claims involving real estate disputes are more common than one might think, especially in situations involving inheritances. The Tennessee Attorney General’s office is now looking into the case to determine whether the estate was targeted with fraud.

As the investigation unfolds, the focus remains on who was behind the failed attempt to auction off Graceland and what measures need to be taken to prevent similar schemes in the future. The iconic property, a symbol of Elvis Presley’s legacy, remains a beacon for fans and tourists alike, drawing hundreds of thousands of visitors annually.