Priscilla Presley told the IRS that she only had $6,000 in jewelry amid her battle with granddaughter Riley Keough over the Elvis estate.
“In reality, Priscilla knew that she owned a multi-million-dollar jewelry collection, and owned collectibles on display and in storage at Graceland worth upwards of $25 million,” according to court documents filed on Friday, October 3, obtained by the National Enquirer.
The documents were filed as part of the lawsuit against Elvis Presley’s ex-wife, 80, by her former business associates, Brigitte Kruse and Kevin Fialko.
According to the papers, Priscilla owed the IRS $655,612 and was attempting to “negotiate down her tax obligations” and “falsely misrepresented” the worth of her jewels.
Superior Court of California
This happened “around the same time as Kruse and Fialko were working to finalize the settlement between Priscilla and Riley, at Priscilla’s demand (ultimately resulting in a multi-million-dollar payment that Priscilla needed, and resulting in multi-million-dollar payouts to other family members),” the papers allege.
Kruse and Fialko claim they “pushed to have [Priscilla’s] assets appraised” — including a diamond bracelet and earrings and 1970 Mercedes given to her by Elvis, as well as her wedding dress. “Realizing that Cross-Complainants were actively pushing for her actual assets to be appraised and disclosed to the IRS (and given that Cross-Complainants had already successfully secured a multi-million-dollar settlement for her), Priscilla orchestrated their immediate termination,” the suit alleges.
Superior Court of Californai
Priscilla reportedly received a $1 million lump sum payment from her granddaughter and a $100,000 yearly payment for her role as a special advisor to the trust, per People. According to a separate complaint Kruse and Fialko filed against Priscilla’s son, Navarone Garcia, also got a “seven-figure” piece of the trust, despite not being related to Elvis.)
This story Priscilla Presley Hid “Multi-Million-Dollar” Jewelry Collection Amid Fight Over Elvis Estate, Lawsuit Claims first appeared on National Enquirer. Add National Enquirer as a Preferred Source by clicking here.
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