Elvis Presley’s eldest granddaughter, actress Riley Keough, is fighting to keep Elvis’ legendary Memphis home, Graceland, from going on the auction block.
According to legal documents, a company called Naussany Investments & Private Lending has claimed that Elvis’ only child, Lisa Marie Presley, borrowed $3.8 million from them, putting up Graceland as collateral, and then didn’t pay them back.
Naussany then put a lien on the iconic home and its grounds, and scheduled an auction of the property for May 23 — but Riley went to court to put a stop to it.
Riley’s lawyers argue in her suit that Lisa Marie never borrowed money from Naussany and the company “appears to be a false entity created for the purpose of defrauding” Lisa Marie’s heirs, Promenade Trust, which is the company that owns Graceland, and anyone who may purchase Graceland in its auction. It also claims that any documents claiming Lisa Marie took out a loan are forgeries.
A judge has issued a temporary restraining order on the sale, with a hearing on the matter scheduled for Wednesday.
Elvis purchased Graceland in 1957. It was turned into a museum after his death, drawing visitors from all over the world. Each year on August 16, the anniversary of Elvis’ death, they hold a candlelit vigil in his honor.
ABC Audio has reached out to Riley’s rep for comment on the suit.
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