Memphis’ historic Graceland estate is up for auction with the possibility of foreclosure.
On Monday, an injunction was filed to delay and challenge the foreclosure, citing potential fraud.
At the heart of the controversy is Nowsunny Investments and Private Lending, which claims Graceland was used as collateral for a loan that the late Lisa Marie Presley was unable to repay. Nowsanee claims Promenade Trust, which manages the Graceland property, owes it $3.8 million.
The Presley family has filed a lawsuit contesting the claims, alleging that the Nosunny documents relating to the loan are fraudulent.
Elvis Presley purchased Graceland, which included the house, barn, and 13.8 acres of land, in March 1957 for $102,500. The land and mansion became Presley’s primary residence until his death in August 1977. Graceland opened to the public in June 1982. , It is said to be the most visited house in America after the White House, welcoming approximately 600,000 visitors a year from all over the world. Elvis and his family, including Presley’s daughter Lisa Marie Presley, are buried in the Meditation Garden there.
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While much is known about the Presley family and Graceland, little is known about Northunny. Here’s the information we found:
First, Nowsany does not have a physical address listed, according to documents included in the lawsuit filed by Lisa Marie Presley’s daughter, Riley Keough. The companies are listed in two of his post office boxes, one for a collections division associated with his Naussany Investments in Hollister, Missouri. The other is in Kimberling City, Missouri. The third address is located in Jacksonville, Florida, and although there is no direct post office box, the listed address is a U.S. Postal Service branch location.
Address of Nowsunny Investment listed in counterclaim
- Nowsunny Investments | 1601-1 N. Main St., Jacksonville, Florida (USPS Branch Site)
- NIPL LLC/Collection Department | PO Box 1015, 1980 Business 65, Hollister, Missouri
- Nowsunny Investments & Private Lending LLC | PO Box 514, Kimberling City, Missouri
Kurt Naussany, who is listed as a defendant in the lawsuit, has two addresses listed in the complaint: the aforementioned Kimberly City address and an unspecified Jacksonville, Florida address listed in his email signature. The email signature also includes an out-of-area phone number for Naussany, along with an email address. Kurt Naussany has not responded to emails listed in Commercial Appeals.
Another member of Nowsany Investments is listed on the recovery invoice as Carolyn Williams, Senior Recovery Officer for NIPL LLC/Recovery Division. Ms. Williams is also mentioned in a letter from Memphis-based Morton and Jeff Germany. That letter also included an email address for Carolyn Williams. The email address provided contains three “L’s” instead of the two in LLC. Commercial Appeals alleges that emails were sent to two of Carolyn Williams’ accounts, one that said “lllc” and one that had the correct spelling, but the one with the correct spelling was bounced and no response was received from the other.
Germany is representing Mr. Keogh, who inherited the Graceland estate under the Promenade Trust after the death of his mother, Lisa Marie Presley, in 2023. Mr. Deutsch said he had not received any response from Nowsany Investments or Kurt Nowsany.
On Monday, NBC News reportedly spoke with Kurt Nowsany via email. Nowsany claims he left his investment firm in 2015, according to a report by NBC News. One of the documents attached to the lawsuit is an email dated July 20, 2023, purportedly signed by Kurt Nowsany.
A Google search for both the company and Kurt Naussany yields little information other than media reports about the incident. Neither the company’s physical store address nor his LinkedIn profile for the company or Kurt Naussany exists. A search for the name “Kurt Naussany” on LexisNexis did not find anyone by that name nationally.
Multiple public notices have been posted this month regarding foreclosure sales of Memphis properties. A public auction was scheduled for Thursday, May 23, at the Shelby County Courthouse in Memphis, but a temporary restraining order was filed by Keough’s attorneys. An injunction hearing is scheduled for 9 a.m. Wednesday, May 22, in Shelby County Superior Court in Memphis.
Commercial Appeal reporter Lucas Finton contributed to this report.
Neil Stbig is a journalist at Commercial Appeal. He can be reached at neil.strebig@commercialappeal.com, 901-426-0679, or via his X/Twitter.@neilstbig.
