Riley Keough’s criminal struggle over Graceland has it appears come to an finish.
Next a Tennessee pass judgement on quickly restrained Naussany Investments and Non-public Lending on Would possibly 22 from promoting the previous house of Elvis Presley in a foreclosures sale, the corporate stated it’ll let fall its declare.
The dispute stems from a $3.8 million mortgage the lending corporate stated Lisa Marie Presley, Keough’s past due mom, took out in 2018, the use of Graceland as collateral, and not repaid. Keough filed a lawsuit towards the corporate on Would possibly 20 nearest it marketed a foreclosures public sale of Elvis Presley’s house prepared for Would possibly 23. She claimed the sale used to be fraudulent and that her past due mom’s signature at the mortgage paperwork used to be cast.
The Tennessee lawyer normal is taking a look into Naussany Investments to decide if there used to be any misconduct.
🚨What simply came about?
Keough, the only trustee of her grandfather Elvis Presley’s Memphis property nearest her mother’s 2023 loss of life, scored a criminal victory on Would possibly 22 when Shelby County Chancellor JoeDae Jenkins issued the transient injunction halting the public sale.
Hours nearest, an lawyer for Keough “received an email from Gregory Naussany confirming they do not intend to move forward with their claim,” a Graceland rep instructed Community book.
Naussany Investments emailed a remark to the Related Press announcing the corporate would now not travel as a result of a key record within the case and the mortgage had been recorded and got in a unique surrounding, so “legal action would have to be filed in multiple states.” In consequence, “The company will be withdrawing all claims with prejudice.”
Naussany said in an email to the Memphis Commercial Appeal: “There was no harm meant on Ms. Keough.”
The attempted foreclosure is now being investigated by Tennessee Attorney General Jonathan Skrmetti’s office.
“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,” he said in a statement on May 23.
Keough said in her legal filing last week that her mother “never borrowed money from Naussany Investments” nor did she give the company a deed of trust for Graceland. She alleged that the business “is not a real entity,” however used to be “created for the purpose of defrauding” Keough’s (up to now Lisa Marie’s) Prom Believe.
The Daisy Jones & the Six actress claimed her mom’s signature used to be cast at the alleged mortgage paperwork. The notary indexed as a eyewitness to the mortgage, Kimberly Philbrick, stated she by no means met Lisa Marie Presley nor notarized any paperwork for her. Keough’s submitting alleged that the “individuals who were involved in the creation of such documents are believed to be guilty of the crime of forgery.”
Elvis Presley Enterprises — the company entity that runs Graceland — subsidized Keough’s claims that the public sale used to be fraudulent. “There is no foreclosure sale. Simply put, the counter lawsuit has been filed to stop the fraud.”
Priscilla Presley, Elvis’s former spouse and Keough’s grandmother, deemed it a “scam.”
↩️ How we were given right here
Ultimate summer season, Keough used to be granted regulate of the Graceland house, Elvis’s assets and 15% of Elvis Presley Enterprises nearest her mom’s surprising loss of life and her temporary criminal struggle with Priscilla.
In September, Naussany Investments and Non-public Lending sued the property, claiming Lisa Marie defaulted at the mortgage, which used to be meant to had been paid off via Would possibly 2022. The corporate claimed it had refuse touch with Lisa Marie nearest March 2022 and that makes an attempt to achieve her had been unsuccessful. Naussany Investments stated it will let fall the lawsuit if the property paid 75% p.c of the debt, or round $2.85 million, inside of 45 days.
Lisa Marie had monetary issues all through her past. She inherited her father’s property, virtue an estimated $100 million, when she used to be 25. Failed trade offer and overspending resulted in her promoting 85 p.c of the stake in Elvis Presley Enterprises in 2005. (She nearest sued her former trade supervisor, Barry Siegel, claiming he mismanaged the property.) Within the $114 million sale, Lisa Marie won $50 million money, $26 million in hold and had $25 million of debt erased. She retained 15% of Elvis Presley Enterprises in addition to possession of Graceland and its unedited pieces. Elvis Presley Enterprises modified palms once more in 2013, with Lisa Marie holding her stake.
Lisa Marie used to be buried at Graceland utmost yr, akin her father, grandparents and son Benjamin Keough, who died in 2020. In an interview nearest her mom’s loss of life, Keough mentioned what the property intended to her and her plans for Graceland, which integrated a Christmas particular she produced.
As sole trustee, Keough additionally manages the trusts of her two more youthful siblings, 15-year-old half-sisters Finley and Harper Lockwood, who’re Lisa Marie’s daughters from her marriage to musician Michael Lockwood.
Up to date, Would possibly 23, 2024 5:22 p.m. ET: This tale has been up to date to mirror that Naussany Investments dropped its claims and is now below investigation.
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