Priscilla Presley Sued Over Alleged $25M IRS Cover-Up [Report]

Priscilla Presley has been hit with another lawsuit — this time, she’s being accused of hiding a multimillion-dollar jewelry collection from the IRS.

According to court documents, former business partners Brigitte Kruse and Kevin Fialko claim the 80-year-old knowingly misrepresented her assets in an attempt to reduce her tax obligations.

A $25 Million Secret?

At the center of the case is a jewelry and collectible collection allegedly worth more than $25 million.

According to People, the lawsuit claims Priscilla told the IRS in 2023 that she only owned $6,000 worth of jewelry on her Form 433-A, a financial disclosure form used to negotiate tax debt.

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Kruse and Fialko allege she knew the true value of her assets, and that the collection was kept at an off-site storage facility run by Angie Marchese, who manages the Graceland Archives in Tennessee.

They also claim Priscilla was simultaneously working to finalize her settlement with granddaughter Riley Keough, which resulted in a multi-million dollar payout to herself and other family members.

Fired for Speaking Up?

The suit further alleges that after Kruse and Fialko indicated they were planning to alert the IRS about the undisclosed assets, Priscilla orchestrated their termination.

Priscilla Denies Everything

Through her attorney Marty Singer, Priscilla is fiercely denying the allegations, calling the lawsuit “absurd” and “completely without merit.”

“This false claim is nothing more than a sad and vicious attempt to tarnish the reputation of an 80-year-old woman,” Singer said in a statement.

He also accused Kruse and Fialko of trying to distract from their own legal troubles, which include allegations of elder abuse and misappropriation of funds from Priscilla.

Not the First Lawsuit

This isn’t the first time Priscilla and her former partners have clashed in court. Just two months ago, Kruse and Fialko claimed she ignored Lisa Marie Presley’s health issues in an alleged attempt to gain more control over the Presley estate.

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They also made the dramatic claim that she financially pressured Elvis during the final months of his life, “pushing him to his death” in August 1977.

Priscilla was married to Elvis Presley from 1967 until their divorce in 1973. Their only child, Lisa Marie, died in 2023 at age 54.