Tenn. AG probing attempt to foreclose on Graceland
MEMPHIS, Tenn. – The little-known entity that attempted to put Graceland up for foreclosure auction has gotten the attention of the Tennessee Attorney General’s Office.
On Thursday, Tennessee Attorney General Jonathan Skrmetti announced his office will be looking into Naussany Investments and Private Lending LLC.
“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,” Skrmettti said in a statement.
“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 the public notice for the foreclosure, Naussany Investments claimed the Promenade Trust, which controls the Graceland Estate at 3734 Elvis Presley Blvd. in Memphis, owed $3.8 million to the firm. Naussany said that sum was derived from unpaid debt accrued by a $450,000 loan Lisa Marie Presley took out with the company in May 2018. Naussany claims Graceland was used as collateral on the loan.
On Wednesday, Chancellor JoeDae Jenkins issued a ruling blocking the foreclosure sale of the Graceland estate.
Musician and actress Riley Keough inherited the estate after her mother, Lisa Marie Presley, died in 2023.
Keough, who is represented by the Memphis firm Morton and Germany, filed a lawsuit against Naussany Investments to stop the sale. The lawsuit also claims Naussany Investments presented fraudulent documents regarding the unpaid loan.
After the hearing Wednesday, alleged representatives from Naussany Investments said the firm was dropping its case.
However, neither the Shelby County Chancery Clerk’s office nor Morton and Germany law firm had received any notice from Naussany Investments as of Friday.