The article details the complex financial legacy of Elvis Presley, highlighting his profligate spending, the mismanagement by his manager Col. Tom Parker, and the resulting chaotic state of his estate upon his death. Priscilla Presley, as a successor trustee, played a pivotal role in turning the estate around.
Priscilla's efforts led to the creation of Elvis Presley Enterprises Inc., which transformed Graceland into a profitable tourist attraction. Despite a successful turnaround and lucrative sale of assets, the Presley family continues to face financial challenges.
⢠Lisa Marie Presley, Elvis' daughter, inherited the estate, but later faced financial difficulties and lawsuits due to mismanagement.
Following Lisa Marie's unexpected death, another legal battle erupted over her estate and trust. A settlement was reached, with Riley Keough, Lisa Marie's daughter, becoming the sole trustee.
The core of the article focuses on Priscilla's contentious partnership with Brigitte Kruse, a memorabilia auctioneer. Kruse, portrayed as Priscilla's financial savior, is accused by Priscilla of fraud and elder abuse, leading to a series of lawsuits and counter-suits. The legal battles highlight the complex financial realities of managing a celebrity legacy, and accusations of stolen items from the Elvis Presley estate.
⢠The dispute involves allegations of fraud, elder abuse, contract breaches and the sale of potentially fake Elvis memorabilia.
The article culminates in the ongoing legal clashes between Priscilla Presley, Brigitte Kruse, and Elvis Presley Enterprises. The lawsuits highlight not only the enduring value of Elvis' legacy, but also the persistent vulnerability of his heirs to financial exploitation. A Missouri woman also pleaded guilty in an unrelated scheme to defraud the family by using falsified documents.
In the summer of 2021, Priscilla Presley seemed to be riding high.
The ex-wife of the King of Rock ânâ Roll had appeared at Graceland during the annual Elvis Week celebration and later hosted a three-day festival at the famous manse extolling the virtues of elegant Southern living. Then there were the highly anticipated upcoming biopics: director Baz Luhrmannâs âElvisâ and Sofia Coppolaâs âPriscillaâ based on her 1985 memoir, for which she served as an executive producer.
Privately, however, it was a difficult time for the actress. Priscilla was mourning the death of her mother, just a year after her grandson, Benjamin Keough, the only son of her daughter Lisa Marie Presley, had died by suicide at 27. Adding to her personal woes, Elvisâ former bride was in a serious financial hole, as court filings would later claim.
Then she met Brigitte Kruse, a flamboyant, fifth-generation auctioneer and self-styled philanthropist who specialized in high-profile celebrity memorabilia, royal objects, estates and fine jewelry sales. In 2017, Kruse gained a measure of renown when she sold an abandoned private plane known as the âlost jetâ once owned by Elvis for $498,000.
After the pair were introduced, they launched a joint venture that would cash in on Priscillaâs famous name, image and likeness through her paid public appearances and other projects.
Within months of their initial meeting, Priscilla began lending her name to some of Kruseâs online Elvis memorabilia auctions with GWS Auctions Inc., based in Agoura Hills.
Priscilla Presley at a 2014 event held at Graceland in Memphis.
(Lance Murphey / Associated Press)
Less than two years later, their partnership was in tatters, with the two women trading bitter allegations in dueling lawsuits.
Priscilla, 80, called Kruse, who was half her age, a âcon-artist and pathological liarâ who had forced her into a âform of indentured servitude,â leading her into signing away 80% of her income and conning her out of more than $1 million, according to the fraud and elder abuse lawsuit she filed against Kruse and her business associates in Los Angeles last year.
Kruse, who did not respond to requests for comment, has disputed Priscilla Presleyâs claims, depicting herself in court filings as her financial savior who faced retaliation after she sued Priscilla for breach of contract a year earlier.
The litigation is the latest in a string of legal battles that Priscilla and the Presley heirs have been involved in since Elvis died nearly 50 years ago, leaving a financial legacy as messy and fraught as the Kingâs life.
While the storied Presley family has forever been enshrined in celebrity as Americaâs reigning pop culture icons, Elvisâ estate has long been the spigot of his heirsâ fortunes and misfortunes, spilling out from the gates of Graceland.
As Joel Weinshanker, managing partner of Elvis Presley Enterprises once said about another dispute involving the estate:
âPeople have been trying to take from Elvis since Elvis was Elvis.â
When 14-year-old Priscilla Beaulieu met Elvis Presley in 1959, he was already Elvis. She was the stepdaughter of an U.S. Air Force officer, living in West Germany where the rocker, then 24, was stationed during his military service.
Four years later, Priscilla moved to Memphis and stepped inside the gilded cage of Elvisâ fame. In 1967, the couple married in Las Vegas. With the birth of their daughter Lisa Marie nine months later, a rock ânâ roll dynasty was born.
Lisa Marie was born in 1968, nine months after Elvis and Priscilla married in Las Vegas.
(Associated Press)
But life inside of the irresistible mythology of Elvis proved stifling. He was mostly on tour and in a haze of drugs and affairs. At 28, Priscilla divorced the rocker, but not his stardom.
She built an agile career out of the ashes of their romance. Priscilla went on to become an actress with a recurring role in the 1980s CBS hit series âDallas,â starred in several of the âNaked Gunâ movies and appeared in other television shows; she also authored books and launched a fragrance.
But she never strayed far from the buzzy afterlife of Elvisâ orbit.
When Elvis died in 1977, their daughter Lisa Marie was just 9 and his father, Vernon Presley, took the reins as executor of his estate. After Vernon died in 1979, Priscilla, a successor trustee, assumed the role of primary manager.
Despite the celebrated influence and global popularity of Elvis, who was estimated to have earned anywhere between $100 million and $1 billion, his estate was in shambles â worth about $5 million. Gracelandâs costly maintenance and massive IRS bills were fast depleting Lisa Marieâs inheritance.
The poor state of affairs was due in part to Elvisâ profligate spending. He was known to lavish Cadillacs and jewelry on friends, many of whom were also on his payroll. But his fortuneâs wane was exacerbated by the abusive control that his longtime manager, Col. Tom Parker, exerted over his business affairs.
Elvis performing in Honolulu in 1973.
(PĂĽl Grandlund)
The cigar-chomping Parker, who died in 1997, was a former carnival barker and a compulsive gambler. He wasnât, however, a colonel â the Dutch-born âParkerâsâ real name was Andreas Cornelis van Kuijk.
During his time as Elvisâ manager, Parker took commissions as high as 50%, and frequently cut deals that enriched himself at the rockerâs expense.
Four years before Elvis died, Parker sold off his back catalog to RCA for $5.4 million (with Parker taking $2.6 million and Elvis $2.8 million), depriving the estate of untold millions in royalties.
In 1981, the co-executors of Elvisâ estate (an attorney separately represented Lisa Marie), sued Parker for massive fraud and mismanagement, claiming he received the âlionâs shareâ of Elvisâ income, even after his death. The parties eventually reached an out-of-court settlement.
But the years of profound missteps and mismanagement left Elvisâ estate facing the prospect of bankruptcy and worse, having to sell Graceland. Priscilla brought in a team of financial advisors and lawyers who engineered a stunning financial turnaround.
In 1981, the Elvis Presley Trust created Elvis Presley Enterprises Inc. to conduct business and manage the trustâs assets, including Graceland, which was opened to the public the following year. Now a National Historic Landmark, the tourist shrine generates an estimated $10 million annually.
By the time Lisa Marie inherited her fatherâs estate upon her 25th birthday in 1993, the estate had rebounded. Two decades later, Graceland, along with the merchandising of Elvisâ image and managing his music royalties, was worth upward of $500 million.
Elvis on the grounds of his Graceland estate circa 1957.
(Michael Ochs Archives/Getty Images)
Then, in 2005, Elvisâ estate changed hands. Lisa Marie agreed to sell 85% of EPEâs assets, including her fatherâs likeness rights, to music entrepreneur Robert F.X. Sillerman and his company CKX Inc. for $114 million.
Under the deal, Lisa Marie retained 15% of the trust and received $50 million in cash as well as $26 million in CKX common and preferred stock. She also retained sole ownership of Graceland and her fatherâs personal items. Priscilla received $6.5 million for the use of the family name, Fortune reported.
But in 2013, CKX Inc. sold its majority interest in the estate to the intellectual property firm Authentic Brands Group for a reported $145 million.
The problems that had long trailed the estate surfaced again five years later.
This time it was Lisa Marie who alleged she had been duped. Then 50 and in the middle of divorcing her fourth husband, Michael Lockwood, the father of her twin girls, she sued her business manager, Barry Siegel. She claimed that as a result of his âreckless and negligent mismanagementâ the trust had dwindled to just $14,000 and was left with $500,000 in credit card debt.
Lisa Marie Presley in her childhood bedroom at Graceland in 2012.
(Lance Murphey/AP)
Siegel denied the allegations and countersued, claiming that she had âsquanderedâ her fortune as a result of her âexcessive spending.â At the time, court filings related to her divorce from Lockwood, revealed that she was $16.7 million in debt.
When Lisa Marie died suddenly in January 2023 at the age of 54, another tense legal battle erupted over the estate and the trust Lisa Marie had set up.
Within weeks of her death, Priscilla went to court to challenge an amendment that removed her as a trustee, making her granddaughter, the actress Riley Keough, sole trustee. Priscillaâs lawyers argued that the signature was âinconsistentâ with Lisa Marieâs handwriting.
The matter was settled five months later. Keough was named sole trustee. In exchange for stepping down, Priscilla received a $1-million lump sum payment paid out of Lisa Marieâs $25-million life insurance policy and was made a special advisor for a trust relating to EPE, for which she would receive $100,000 annually for 10 years or until her death.
Priscilla was also granted permission to be buried in the Meditation Garden at Graceland near Elvisâ gravesite and to be given a memorial service on the property.
By spring 2023, as Priscilla resolved her dispute with her daughterâs estate, Kruseâs presence and influence in her personal and business affairs deepened.
When they met, Priscilla was in her mid-70s and her main source of income derived from her paid personal appearances. Kruseâs suit described Presleyâs celebrity as âa mere shadow of what it once was, and her earning potential was only a fraction of what it previously was.â
Moreover, she claimed that Priscilla was 60 days away from financial disaster, and drowning under $700,000 in outstanding tax debts.
Then 39, Kruse was publicly portrayed as a success, active in the worlds of celebrity and philanthropy and who spoke multiple languages. She highlighted her advocacy for children with autism and AIDS research; donating money to related causes and delivering toys to orphans in global conflict zones with her husband, Vahe Sislyan.
On social media and in news releases, Kruse showcased her activities and accolades, posting images alongside various marquee names such as the pop star Gwen Stefani and President Trump and his wife, Melania.
In 2016, seven years after Kruse and her husband founded GWS, she was the first female auctioneer to make it into the Guinness Book of World Records (for selling the largest abandoned world property). Kruse formally added the honorific title âDameâ to her name after a member of the royal Italian Medici family conferred the title of Cavaliere, a kind of knighthood, on her.
In media interviews, Kruse liked to say that the sale of Elvisâ âlost jetâ had seared her reputation as the rockerâs memorabilia dealer. Over the years she was prolific, selling a number of his items, including the Smith & Wesson that he was said to have purchased in 1973 after he was attacked onstage in Las Vegas.
According to Priscilla, she first met Kruse in June 2021 after the auctioneer texted her saying sheâd like to meet for lunch.
They dined at Gucci Osteria in Beverly Hills followed by numerous other get-togethers in Los Angeles. Kruse introduced her to her âbusiness partner,â Kevin Fialko, âan investor, experienced businessman, and financial expert,â who âwould help Kruse get my financial affairs in order,â according to a declaration submitted by Priscilla.
Dame Brigitte Kruse and Priscilla Presley at an event in Orlando in 2023.
(Gerardo Mora/Getty Images)
âWhen I first met Brigitte Kruse, she wanted to involve me in her auction business,â she wrote in her March declaration.
From there, Kruse âquickly immersed herselfâ in Priscillaâs life, âoften sending her multiple text messages a day, and âtelling her how much she loved her and admired her,â according to her elder abuse complaint. She also talked up her credentials, lineage and expertise in the auction business as well as her âconnections to celebrities.â
In September 2021, Priscilla participated in one of GWSâ online auctions that featured a private lunch with her and Kruse, with a portion of the proceeds going to a charity. A number of Elvis items were also auctioned off, such as the white eyelet jumpsuit cape he wore during his 1972 performances at Madison Square Garden and a jar of his hair.
âSheâs just such a wealth of experience and knowledge. You donât study and learn about Elvis without learning about Priscilla as well. Their names are synonymous,â Kruse told People.
The following year, Kruseâs GWS conducted an online auction billed as âThe Lost Jewelry Collection of Elvis Presley and Colonel Tom Parker,â including watches, rings and cuff links that Elvis had bought or commissioned for his manager.
Although she didnât own any of the items, Priscilla provided âletters of recollectionâ vouching for her personal historical memories of many of them, according to the auctionâs online catalog notes.
âThere is so much product out there that is not authentic at all and that worries me,â she said in a video with Reuters after viewing the collection. âI want to know for sure that that is going to go to someone who is going to care for it, love it.â
By January 2023, Priscilla and Kruse agreed to set up several companies to exploit Priscillaâs name and image and to bolster Kruseâs Elvis memorabilia auctions through Priscillaâs written ârecollections.â
The terms of their agreement gave Kruse 51% and Presley 49% of Priscilla Presley Partners LLC, according to court filings.
Soon after, however, Priscilla alleged Kruse and Fialko âexpanded the scope of their interest in my affairs, seeking to inject themselves into every area of my life.â
They gained her trust and isolated her from key advisors, setting the stage for âa meticulously planned and abhorrent scheme,â intended âto drain her of every last penny she had,â Presley alleged in her lawsuit.
Presley says that she was âfraudulently inducedâ to sign documents without the opportunity to review them in advance or âadvised as to the nature of the paperwork.â
The contracts gave Kruse a controlling interest in her name, image and likeness in perpetuity. They also granted her power of attorney over Priscillaâs affairs and healthcare and named Kruse a trustee on her personal and family trusts, according to Priscillaâs declaration.
Along with Fialko, Kruse closed Priscillaâs bank accounts and opened new ones âin an effort to transfer the funds of Presleyâs various personal, business and trust accounts.â
Priscilla claims she also signed a five-year lease on a house in Orlando, Fla., owned by Sislyan, that she never asked for or wanted.
Further, Priscilla alleges in a declaration that Kruse and Fialko leaned on Coppola to get a credit on the biopic and diverted $120,000 of money Presley earned from the film into their own accounts.
When Lisa Marie died, Priscilla contended that Kruse and Fialko improperly inserted themselves into her legal dispute over her daughterâs trust, she said in her complaint. They also had the âaudacityâ to demand that they were allowed âto attend any memorial service for Presley in the future,â she added.
By August 2023, Priscilla severed ties with Kruse.
A lawyer representing Kruse and Fialko did not respond to a request for comment.
A few months later, Kruse, through Priscilla Presley Partners, sued for breach of contract, saying Priscilla asked Kruse to take over her business affairs, requiring her to âdevote her attention full-time to managing Priscillaâs lifeâ in order to âmonetize various aspects of [Presleyâs] life.â
Kruse and Fialko maintained they worked tirelessly to keep Priscilla from âfinancial ruin and public embarrassment,â and that she fully understood the agreements she was signing.
Meanwhile, others began to question the authenticity around some of GWSâ Elvis sales.
When GWS held another online auction of Elvis memorabilia in January 2023 that included a one-of-a-kind grommet jacket that Elvis wore in 1972, it drew the attention of Elvis Presley Enterprises.
âWe know there was only one made, and guess what? We have it in our archives,â Weinshanker, EPEâs managing partner, told NBC News, last July.
GWS said the claims were unsubstantiated: âGWS stands behind everything that it sells, and categorically denies tracking in fake or inauthentic items attributed to Elvis Presley, or otherwise.â
The tensions escalated last November, after GWS announced another âlostâ collection auction of Elvis and Col. Parker memorabilia, comprising 400 items.
Priscilla Presley, her daughter, Lisa Marie, and grandaughters, Riley Keough, Harper Lockwood and Finley Lockwood, at an event honoring the Presley family at the TCL Chinese Theatre in Los Angeles in 2022.
(Jordan Strauss / Invision / Associated Press)
The cache of documents included telegrams Elvis and Parker sent to Frank Sinatra, the Beatles and others, handwritten notes and Elvisâ signed 1956 contract with the New Frontier Hotel in Las Vegas, included in the auction, that rang alarm bells.
The estateâs lawyers in December sent a cease and desist letter to GWS, claiming the listed auction items were the property of Graceland and demanded their immediate return. Nonetheless, GWS went forward with the sale, contending in a letter it had acted appropriately.
On Dec. 24, the estate sued GWS, Kruse and two others, claiming the items belonged to Graceland and were âimproperly and illegally offered for sale at auction.â They sought to recover at least 74 âirreplaceable documents,â and alleged that the defendants were in âpossession of perhaps thousands more such items.â
According to the suit, the allegedly âstolenâ items were part of an enormous trove that the estate acquired from Parker in 1990 for $1.25 million. GWS has denied that it had engaged in âany wrongdoing whatsoever.â
Elvisâ estate alleges that a former Parker employee named Greg McDonald âtook possessionâ of the documents that should have been turned over to Graceland after Parker died.
Instead, when McDonald died in 2024, his widow, Sherry, and son Thomas McDonald, who are named as defendants, âtook possession of the Property and then delivered it to Brigitte Kruse for sale at GWS,â the lawsuit states.
The suit further asserted that Kruse was aware of the circumstances in which Greg McDonald obtained the items before putting them up for sale. In an email thread between Kruse and Gracelandâs longtime archivist in 2021, included in the filings, Kruse wrote that she had a video of her in conversation with McDonald in which he âadmits to knowing of the theft,â in regards to the documents.
Over 600,000 visitors go to Graceland each year, earning the estate an estimated $10 million annually.
(Raymond Boyd / Getty Images)
An attorney for Kruse disputed the claim, saying in a statement that when she had informed the Elvis estate of the existence of McDonaldâs collection in 2021, âthey did not make a claim to Mr. McDonald alleging that the collection was not rightfully his.â
GWS ânever maintained care, custody or control of any of the itemsâ that were auctioned,â the statement read. âWe will continue to respect the judicial process and the outcome of the ongoing litigation.â
In a statement to The Times on behalf of himself and his mother, Thomas McDonald said: âThe property in which Graceland and Elvis Presley Enterprises are asserting ownership has been in my familyâs possession for over forty years as gifts from the Colonel. I am committed to resolving this dispute and vindicating my familyâs rights as expediently and fairly as possible.â
Lawyers for EPE and Graceland Holdings did not respond to a request for comment.
As the various lawsuits were unfolding, last April, GWS Auctions was suspended by the Franchise Tax Board in California, effectively losing its standing to operate legally due to noncompliance with tax requirements.
In court filings, Kruse and her co-defendants are cited as saying that GWS is âdefunct.â However, GWSâ website remains active and currently lists the results of its most recent auction: the Artifacts of Hollywood and Music sale held on June 7 (that included the racing helmet Elvis wore in âViva Las Vegas,â which sold for $6,500).
Last month, Elvisâ former wife scored a legal win when a Los Angeles County Superior Court judge denied a motion by Kruse and her business associates to temporarily put a hold on the elder abuse lawsuit in an effort to move the litigation to Florida.
In his ruling, Judge Mark H. Epstein expressed frustration with the defendantsâ ânever-ending series of motions,â underscoring that this was not a contract-based case. Presley âis suing these defendants for fraud and elder abuse, an aspect of which was allegedly bamboozling her into signing those agreements in the first place.â
The ongoing clash with Kruse has left Priscilla âdevastated,â said her attorney, Wayne Harman. âWe look forward to the court holding defendants fully accountable for their actions,â he said in a statement.
Amid the fallout with Kruse, the estate faced another controversy.
A mysterious company, Naussany Investments & Private Lending, presented documents claiming that Lisa Marie had borrowed $3.8 million and put up Graceland as collateral but had failed to repay the loan before she died.
It was an elaborate scam, according to federal authorities, who in August arrested a Missouri woman, Lisa Jeanine Findley, alleging she used fake documents to âsteal the familyâs ownership interest in Gracelandâ and attempted to put it up for sale.
In February, Findley pleaded guilty to mail fraud for her role in the scheme and is scheduled to be sentenced this week. She faces a maximum penalty of 20 years in prison.
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