Following the death of Elvis Presley and Priscilla Presley’s only daughter, Lisa Marie Presley, last year, a legal battle ensued over Elvis’ famous Graceland property in Memphis, Tennessee. Priscilla and Lisa Marie’s former business manager, Barry Siegel, were formerly co-trustees of the estate. However, the late singer reportedly made some changes against her mother’s wishes.
Lisa Marie allegedly named her daughter Riley Keough and her late son Benjamin Keough as current trustees, leading Priscilla to question the “authenticity and validity” of the amendment via a petition filed in Los Angeles. The inheritance in question was worth about $110 million at the time and included a stake in Elvis Presley Enterprises (EPE).
Although Priscilla assured the ownership of Graceland was being sorted out amicably, recent updates on the legal proceedings claim that Riley is currently fighting off a fraudulent attempt to auction the estate off. Court documents prove that Riley stopped the property’s sale and received a temporary restraining order from the courts against the lenders.
The lending company, Naussany Investments and Private Lending, claimed that Lisa Marie used the $500 million Graceland as collateral for a $3.8 million loan via Promenade Trust, which oversees the museum. Riley responded with a lawsuit and debunked the foreclosure sale notice based on scam documents presented by Naussany last November.
Priscilla supported Riley and echoed the same goal via Instagram with a photo of Graceland captioned, “It is a scam” in bold red fonts. The 78-year-old moved to the estate when she was only 18, and even wishes to be buried there with her late daughter and “the love of my life when that time comes.”
Priscilla is also credited with keeping the property running, as she grew its value by almost 5,000 percent since Elvis died in 1977. She made Graceland publicly available in 1982, making it one of America’s most visited tourist areas and generating revenue of up to $10,000 yearly.
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