Elvis Presley’s Iconic Graceland Mansion Is Auctioned Due to Bankruptcy, Elvis’ Granddaughter Claims Fraud and Fights Back | The Gateway expert

The King of Rock ‘n’ Roll, Elvis Presley’s iconic Graceland mansion, is set to be sold at a foreclosure auction Thursday, prompting Elvis’ granddaughter to fight back in a lawsuit.

According to a notification presented by the Shelby County Courthouse in Memphis, Tennesse, Graceland and the surrounding estate will be sold at auction on May 2.

In response to the announcement, Riley Keough, the granddaughter of the late Elvis Presley, called the auction a “sham” and filed a lawsuit to prevent the estate from being sold.

On Monday, an attorney representing Keough obtained a temporary restraining order preventing the sale, and a hearing was scheduled for Wednesday.

Elvis Presley’s Graceland mansion, a hugely popular tourist attraction and the singer’s final resting place, appears to be heading for foreclosure later this week.

Riley Keough, Elvis’ granddaughter, is fighting back with a fraud lawsuit. pic.twitter.com/El75GHJ5S7

— CBS Mornings (@CBSMorgens) May 21, 2024

Per The New York Post:

Elvis Presley’s legendary Graceland mansion is set to be sold at a foreclosure auction Thursday — sparking a dramatic legal battle from his granddaughter, Riley Keough, who called the pending sale “fraudulent.”

A notice from the Shelby County Courthouse said Graceland and surrounding properties in Memphis, Tennessee, will be auctioned for cash to the highest bidder on May 23, WREG-TV News reported.

Keough, 34, the current owner of the property and granddaughter of the King of Rock ‘n’ Roll, is fiercely fighting the sale. She filed a lawsuit calling the auction a sham, and on Monday her lawyer secured a temporary restraining order.

There will be a hearing on the ban on Wednesday.

According to the GuardianKeough’s mother, Lisa Presley, who died last year, is said to have put up Graceland as collateral after receiving a $3.8 million loan from Naussany Investments & Private Lending.

Here is a photo of Elvis in 1957 when he first purchased the estate:

Elvis Presley at Graceland in 1957, the year he purchased the estate pic.twitter.com/DJflHaTrkI

— . (@Best_Lonely1) May 21, 2024