Riley Keough has claimed a foreclosure auction of her grandfather Elvis Presley's iconic Graceland home is "fraudulent".

On Thursday (23.05.24), the famous Memphis property is due to be sold to the highest bidder by Naussany Investments and Private Lending LLC, who allege Riley's late mother and Graceland's previous owner Lisa Marie Presley signed a Deed of Trust, using Graceland as collateral, to secure a $3.8 million loan which she is said to have failed to repay before her death in January 2023.

According to a 60-page lawsuit obtained by PEOPLE, the 34-year-old actress alleges "the note and deed of trust are fraudulent and unenforceable", and she also claims Naussany Investments and Private Lending LLC is "not a real entity".

Riley, who is a trustee of the Promenade Trust, claims in the lawsuit: "The purported note and deed of trust are products of fraud and those individuals who were involved in the creation of such documents are believed to be guilty of the crime of forgery.

"On information and belief, Naussany Investments and Private Lending LLC is not a real entity. Naussany Investments and Private Lending LLC appears to be a false entity created for the purpose of defrauding the Promenade Trust, the heirs of Lisa Marie Presley, or any purchaser of Graceland at a non-judicial sale."

The lawsuit includes the Deed of Trust, and documents of the alleged loan to her late mother, who passed away aged 54.

Riley also says in the papers: "These documents are fraudulent.

"Lisa Marie Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments."

On Tuesday (21.05.24), Lisa's mother Priscilla Presley took to Instagram to post a picture of the late King of Rock and Roll’s beloved residence, and she posted: "It's a scam".

An injunction hearing is set to take place on Wednesday (22.05.24), after a temporary restraining order on the sale was granted on Monday (20.05.24).

Riley was named sole trustee of her late mum’s estate in August after a fierce legal battle with her grandmother Priscilla, 78, who had Lisa Marie during her tortured six-year marriage to Elvis from 1967 to 1973.

The ‘Daisy Jones and the Six’ actress was also granted ownership of Graceland, where her grandad Elvis was buried following his death aged 42 in 1977, after years of tranquiliser pills abuse.

Riley is reported to have paid her grandmother more than $1 million before they settled their legal dispute in June 2023.

Their battle started after Lisa Marie’s death when Priscilla contested “the authenticity and validity” of her late daughter’s will.