Priscilla Presley is denying accusations she concealed ‘upwards of $25 million’ worth of jewelry from the IRS, made in a lawsuit from a pair of one-time business associates.

In the lawsuit filed in Los Angeles, Brigitte Kruse and Kevin Fialko – former business partners of the ex-wife of the late Elvis Presley – claimed Priscilla misrepresented her wealth in official filings to government tax officials.

Kruse and Fialko said the 80-year-old actress and businesswoman in a May 4, 2023 Form 433-A filing, ‘falsely represented’ her ‘multi-million-dollar jewelry collection, as being ‘only… worth $6,000,’ according to court docs reviewed by People. 

Kruse and Fialko said the Brooklyn, New York-born star’s $25 million lot was also composed of ‘collectibles on display and in storage at Graceland.’  

Kruse and Fialko said Priscilla ‘orchestrated their immediate termination’ from employment after she came to the understanding they were going to tell the IRS about the indiscrepancies regarding the value of the jewelry and other items. 

Daily Mail has reached out to Priscilla’s rep and attorney’s office for further comment on the story.

Priscilla Presley, 80, is denying accusations she concealed ‘upwards of $25 million’ worth of jewelry from the IRS, in a lawsuit filed against her. Pictured last month in NYC 

Kruse and Fialko in the lawsuit claimed Priscilla kept the valuables at an off-site facility which had been overseen by Graceland Archives manager Angie Marchese.

Priscilla’s attorney Marty Singer told Daily Mail in a statement that ‘the claims made by Brigitte Kruse and Kevin Fialko are absurd and completely without merit.’

Singer added that ‘this false claim is nothing more than a sad and vicious attempt to tarnish the reputation of an 80-year-old woman’ in reference to Priscilla, who recently released a memoir titled Softly, As I Leave You: Live After Elvis. 

Singer continued, ‘This allegation has nothing to do with the claims that exist against Brigitte Kruse and Kevin Fialco and do not deflect the substantial liability Brigitte Kruse and Kevin Fialco have for the claims against them.’

Singer told Daily Mail that the claims were that the tandem had been ‘engaging in misappropriation of substantial monies from Priscilla Presley and engaging in elder abuse, referring to the allegations that Presley made against them in a 2024 court filing.

Kruse and Fialko’s attorney Jordan Matthews told the Daily Mail in a statement: ‘The allegations in our cross-complaint demonstrate that our clients required Priscilla Presley to comply with the IRS’s request for financials. 

‘Priscilla was asked to lawfully disclose her assets to authorities. She abruptly fired them the next day. Our clients are hardworking individuals who put their lives on hold to support her, only to be cast aside for demanding honesty and legal compliance.

‘Since then, Presley has used her fame and platform to publicly smear them with baseless claims, damaging their reputations and livelihoods. As she promotes her book, she avoids questions about the case because she has no evidence whatsoever. This is a clear case of a celebrity using their fame and privilege to silence honest people and avoid accountability.

‘Lastly, for any representative from Elvis Presley Enterprises to say ‘Priscilla does not have a massive collection at Graceland’ is not only dishonest, it can be proven otherwise. This is entirely unacceptable and, as a matter of integrity, we demand that the truth be heard.’

Legal filings in the case reveal decades of behind-the-scenes power struggles within one of America’s most iconic families.

It’s been nearly three years since the tragic death of Priscilla’s daughter Lisa Marie Presley at 54 in January 2023 as result of a small bowel obstruction

Lisa Marie had previously been married to the late Michael Jackson and Danny Keough. 

Lisa Marie and Keough welcomed two children: late son Benjamin, who tragically died at 27 in August of 2020; and daughter Riley, 36, who has emerged as a force on her own in the entertainment industry. 

Priscilla recently released a memoir titled Softly, As I Leave You: Live After Elvis. Pictured earlier this month in London

(L-R) Harper Vivienne Ann Lockwood, the late Lisa Marie Presley, Priscilla Presley, Riley Keough and Finley Aaron Love Lockwood pictured in LA in June of 2022 

Lisa Marie was also mom to twins Harper and Finley, 16, with her ex-husband Michael Lockwood.

Priscilla, who’s been seen in films such as The Naked Gun trilogy and The Adventures of Ford Fairlane, parted ways from Elvis in 1972 – five years before his August 1977 death at the age of 42. 

Kruse and Fialko in September claimed in a legal complaint that Priscilla had neglected to tend to the late Lisa Marie’s failing health as part of a grander scheme to control the estate of the late Elvis Presley, People reported. 

They also claimed said that she put ‘undue pressure’ on Elvis himself in the months prior to his death, ‘pushing’ him over the edge.

These latest claims are part of an ongoing legal battle initiated by Kruse and Fialko against Presley in 2023, with Presley suing back in 2024. 

Priscilla and Keough told People last month, ‘We are aware of the latest allegations from Brigitte Kruse. These claims are not only untrue but also deeply hurtful. Our family is, and always has been, united in love and respect for one another.

‘Our shared priority remains honoring Lisa Marie’s memory and protecting Elvis’ legacy with dignity. We will not allow outside voices to divide us or to diminish the strength of our bond as a family.’