Priscilla Presley Accused Of Falsifying Records To Hide $25M Jewelry Collection From IRS By Ex-Associates
By Fiyin Olowokandi on October 10, 2025 at 6:30 PM EDT
Priscilla Presley's legal battle with her former business partners is becoming even messier. The pair has leveled new allegations against her that could damage her case.
The legal feud between Presley and her former business partners, Brigitte Kruse and Kevin Fialko, began when she accused them of financial elder abuse. In response, they fired back with a lawsuit alleging fraud, breach of contract, and even claiming she played a role in her daughter Lisa Marie Presley's death.
While Priscilla, through her attorneys, has since denied the allegations, Kevin and Fialko are hitting harder. They sued the actress, saying she lied about the value of her jewelry to the Internal Revenue Service.
Priscilla Presley Accused of Falsifying Assets Worth To The IRS
Kruse and Fialko have escalated their case, stating that the “Naked Gun” star did not disclose the true value of her multi-million-dollar memorabilia and jewelry collection, worth over $25 million, to federal tax authorities.
In the documents filed by the accusers, they stated the businesswoman submitted “Form 433-A to the IRS in an attempt to negotiate down her tax obligations, where she falsely represented to the IRS on May 4, 2023, that she only owned jewelry worth $6,000."
The filing further stated that Presley owned and was aware of the valuable items displayed and stored at Graceland, which were managed by Angie Marchese, director of the Graceland Archives.
Kruse and Fialko alleged that when Priscilla discovered they were planning to report the real value of her collection to the IRS, she quickly silenced them. In their words, she “orchestrated their immediate termination.”
Attorney for Priscilla Presley Denies The Allegations
Following the new claims, Presley's attorney, Marty Singer, swiftly denied the accusations. “The claims made by Brigitte Kruse and Kevin Fialko are absurd and completely without merit,” Singer said in a statement obtained by PEOPLE Magazine.
He described the lawsuit as a malicious attempt to damage Priscilla's reputation, insisting it has no relevance to the ongoing case.
“This allegation has nothing to do with the claims that exist against Brigitte Kruse and Kevin Fialko and do not deflect the substantial liability Brigitte Kruse and Kevin Fialko have for the claims against them,” Singer added.
Court Granted Priscilla Presley Approval To Access Bank Records
Kruse and Fialko's latest filing comes just weeks after Priscilla made progress in her case against them. According to The Blast, during a September 24 hearing, a judge granted her permission to review bank records that her legal team believes contain key evidence supporting her case.
The team asserted that Kruse and the other defendants worked through a Missouri-based firm, Clevenger Accounting, to manipulate her finances. As such, the bank statements and related documents are critical.
However, the ex-associates were not moved by her request and reported that they had handed over the desired information as they were being fully transparent.
Brigitte Kruse And Kevin Fialko Have Been Hitting Priscilla Presley With Shocking Allegations
The falsified value assets claim is not the only shocking claim the plaintiffs have slammed the actress with. In August, The Blast reported, the plaintiffs accused her of exploiting her daughter’s death to reclaim property, void contracts, and regain control of lost rights.
According to Kruse and Fialko, the actress betrayed them by making deals behind their backs and later turned on them with an action for financial elder abuse. The duo explained that their business relationship with Priscilla dates back to 2022, when she sought their help to overcome a financial crisis.
They had helped her negotiate the $2.4 million settlement Priscilla received amid her dispute with her granddaughter, Riley Keough, concerning Lisa Marie’s trust.
Additionally, they had invested money in her brand and helped her boost her show earnings to $50,000.
Priscilla Presley Reflected On Her Daughter's Decision To Sell Her Inheritance
Amid her ongoing legal troubles, Priscilla looked back on one painful decision made by her demised child that cost the family major control of Graceland and other business ventures.
As The Blast reported, Lisa inherited her share of Elvis's estate in 1993 but sold 85% of it in 2005 to pay off debts. Priscilla admitted that although she was aware of her kid’s financial struggles, she never expected such a drastic move.
The 80-year-old shared that the sale broke her heart, not only because it meant the family would lose a vital income source, but also because it would mean losing influence over Elvis's legacy, something deeply personal to her.
