The mystery lender with plans to auction off Elvis Presley's iconic Graceland home has now dropped its legal battle over the estate in a shocking turn of events,RadarOnline.com has learned.
A judge halted the foreclosure sale set for Thursday after Star Wars actress Riley Keough, the granddaughter of Elvis, filed a complaint claiming that the company was trying to defraud her family into selling Graceland by forging the signature of her late mother Lisa Marie Presley.
The trial was thereby delayed until Naussany Investments & Private Lending LLC provided a defense to her claims.
Naussany Investments and Private Lending LLC stated that Lisa Marie borrowed $3.8 million and gave them a deed of trust encumbering Graceland as collateral before her Jan. 2023 death.
Lisa Marie died from a small bowel obstruction, a complication from bariatric surgery she had several years prior, after going into cardiac arrest at her California home.
Keough, however, fired back in court documents that the alleged creditor used forged signatures to create a loan for her late mom that never existed.
Naussany previously argued that the company's claim to Graceland is the real deal while also denying allegations made by the actress, stating they were prepared to provide "evidence and arguments" to substantiate their claims.
On Wednesday, however, a man purporting to be Gregory Naussany issued a statement to Daily Mail explaining the change of heart.
"Due to the deed of trust not being recorded and the loan being obtained in different state, legal action would have to be filed in multiple states and Naussany Investments & Private Lending will not acquire to proceed," it read, noting he would be "withdrawing all claims with prejudice."
"Per counsel it's in the best interest as multiple filings would have to be filed in 3 different states," according to the response. "The company will no longer comment."
Keough's lawyer Jeff Germany did not confirm or deny if he would be referring the matter to law enforcement following the statement from Graceland and Elvis Presley Enterprises on the sale being halted.
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"There will be no foreclosure," it read. "Graceland will continue to operate as it has for the past 42 years, ensuring that Elvis fans from around the world can continue to have a best in class experience when visiting his iconic home."