Priscilla Presley, 80, finds herself at the centre of a high-stakes legal battle after former business partners Brigitte Kruse and Kevin Fialko filed a lawsuit claiming she concealed jewellery and memorabilia worth more than $25 million from the US Internal Revenue Service.
The complaint alleges that in a 2023 IRS disclosure (Form 433-A), she listed just $6,000 in jewellery, dramatically downplaying her assets, according to People.
The plaintiffs also assert that this collection was stored off-site in a facility overseen by Angie Marchese, who manages the Graceland Archives. After learning that Kruse and Fialko intended to report the actual value to the IRS, the suit claims Presley abruptly terminated their contracts.
Presley and granddaughter Riley Keough issued a joint statement calling the allegations 'untrue' and 'deeply hurtful,' affirming the family remains 'united in love and respect.'
Republican Versus Denial: Presley's Defence
Presley's attorneys, led by Marty Singer, have vehemently denied the lawsuit's core claims. They describe the accusations as 'absurd' and part of a smear campaign, arguing Kruse and Fialko are the actual liabilities. Singer says: 'This false claim is nothing more than a sad and vicious attempt to tarnish the reputation of an 80-year-old woman.'
AP News stated that the suit also overlaps, in legal forums, with an older case. In August 2025, Kruse and Fialko filed a separate suit seeking more than $50 million in damages, alleging Presley engaged in fraud, breach of contract, and misappropriation of her name and likeness.
According to court documents cited by People, the lawsuit alleges Presley undervalued her jewellery holdings in IRS paperwork. In a 2023 filing known as Form 433-A, she reportedly declared only $6,000 in jewellery. Plaintiffs Brigitte Kruse and Kevin Fialko, who were once business partners in Presley's ventures, argue that this was a misrepresentation that concealed the existence of a far larger collection linked to her late husband, Elvis Presley.
The complaint further claims the assets were stored away from official oversight and managed through Graceland Archives executive Angie Marchese. By moving the collection into private holdings, Presley allegedly kept it hidden from federal tax authorities. The cited figure of $25 million reflects valuations made by the plaintiffs, though such estimates often vary depending on appraisers and market demand for celebrity memorabilia.
What the Plaintiffs are Claiming
Presley's legal team has firmly rejected the allegations. Her attorneys described the claims as 'absurd,' framing the lawsuit as part of a long-running feud with Kruse and Fialko. The pair also filed a separate lawsuit in August 2025 seeking more than $50 million in damages for alleged fraud, breach of contract, and exploitation of Presley's name and likeness.
At present, the IRS has not announced any independent enforcement action against Presley, and she has not been charged with tax evasion. Legal experts note that until a court rules, the claims remain unproven allegations.
Past Disputes and Wider Context
Presley, 80, has long been linked to financial disputes tied to the Elvis Presley estate, which generates significant revenue through licensing rights, tourism, and memorabilia sales. Earlier this year, she reached a settlement with her granddaughter, Riley Keough, over control of aspects of the estate following the death of her daughter, Lisa Marie Presley.
Valuation disputes are common in celebrity estates, where unique items such as stage costumes, handwritten lyrics, or jewellery can have wide price ranges depending on collectors' interest. Such disagreements often trigger lawsuits, with parties arguing over whether assets have been fully disclosed to authorities or fairly divided among stakeholders.
What Happens Next
The case will now move forward in federal court, beginning with pre-trial motions and discovery. It remains unclear whether Presley will seek dismissal, attempt a settlement, or face trial.
For now, the allegations have reignited debate about transparency, celebrity wealth, and the responsibilities of high-profile figures in managing estates. Supporters argue Presley is being targeted by opportunistic litigation, while critics insist the scale of the claims raises serious accountability questions.
No court has yet determined wrongdoing, but the spotlight on Presley's finances ensures the next phase of proceedings will be closely followed.
