Arrest warrant adds new turmoil around Miss Universe leadership
A Bangkok court has issued an arrest warrant for Thai media entrepreneur Jakkaphong Anne Jakrajutatip after she failed to appear for a scheduled hearing in a fraud case linked to a 2023 corporate bond sale. The Bangkok South Civil Court said she did not notify the court of her absence, deemed her a flight risk, and rescheduled the proceeding to December 26. Jakrajutatip, who co owns the Miss Universe Organization through her company JKN Global Group, was charged with fraud in 2023 and was released on bail at that time.
The complaint comes from plastic surgeon Raweewat Maschamadol, who says he lost 30 million baht (about 930,000 dollars) on JKN corporate bonds he purchased in 2023. He alleges he was misled about the company’s financial condition and its ability to return his money on schedule. The case has moved forward as JKN has struggled with liquidity and missed payments to investors.
Jakrajutatip’s current location is unclear. She did not attend the Miss Universe 2025 final in Bangkok earlier this month. JKN has denied rumors that she liquidated assets and left the country, but the company has not offered details about her whereabouts. The court’s warrant is meant to ensure she appears so the judges can read the verdict in Raweewat’s case. If she does not present herself, authorities can execute the warrant to secure her attendance.
Who is Anne Jakrajutatip and her path to Miss Universe
Jakrajutatip is a prominent Thai media executive and television personality. She rose to global attention in 2022 when JKN Global Group acquired the Miss Universe Organization from IMG for about 20 million dollars. In 2023, JKN sold half of its stake in Miss Universe to Legacy Holding Group USA for 16 million dollars. Legacy is led by Mexican businessman Raul Rocha Cantu, who now serves as Miss Universe president. Jakrajutatip remained the most influential shareholder on the JKN side even after that partial sale.
JKN’s finances later deteriorated. The company defaulted on some investor payments in 2023, then entered a court supervised rehabilitation process in 2024, reporting about 3 billion baht in obligations (roughly 93 million dollars). The Stock Exchange of Thailand delisted JKN shares in 2024 after the company failed to submit financial statements and regulators said it had falsified filings. In June 2025, Thailand’s Securities and Exchange Commission accused Jakrajutatip of falsifying JKN’s 2023 financial statements. She resigned from her executive positions that month, though she remains the largest shareholder.
Miss Universe has changed ownership several times over the past decade. It was owned by Donald Trump until 2015, then moved under IMG, and later to JKN. The pageant brands itself as a global media property with partnerships in many countries, making any leadership controversy a business risk with global reach.
What the fraud case alleges
The lawsuit at the center of the warrant concerns a private investment in JKN corporate bonds by Dr. Raweewat in 2023. He says he agreed to buy 30 million baht of JKN debt after receiving assurances about the company’s ability to repay. He now alleges that the assurances were false and that his investment lost value when the company stopped making payments.
A statement from the court characterizes the allegation in direct terms, saying Jakrajutatip persuaded the plaintiff to invest despite knowing repayment was not feasible on time.
According to the court’s statement, the defendant invited the plaintiff to invest knowing her inability to return the money within the appointed time.
The case highlights how corporate bonds work in practice. These instruments are IOUs issued by companies that promise interest and principal repayment at specific dates. Investors typically rely on a company’s disclosure and financial health to judge risk. If a company misses payments or seeks to restructure its debt, bondholders can face delays or losses. In this dispute, the investor says he bought the bonds based on assurances that did not reflect the company’s true position, and that he suffered a significant loss when payments stopped.
How debt rehabilitation works in Thailand
Thailand’s debt rehabilitation is a court supervised process that allows a financially troubled company to reorganize what it owes while attempting to keep operating. The Central Bankruptcy Court can approve a plan that delays payments, reduces debt, or swaps debt for other instruments. Once a plan is in place, creditors often vote on proposed terms. The goal is to stabilize the company so it can pay what it can over time rather than shut down outright.
For investors, rehabilitation often means uncertainty. Payments can be paused while a plan is crafted, and recovery depends on the company’s future performance and the terms of the court approved plan. In JKN’s case, the company has acknowledged heavy obligations and its plan is intended to bring overdue payments under control. The fraud case sits alongside that restructuring, with the court now moving to ensure the defendant appears for the verdict in the investor’s specific claim.
Pageant controversies add to the pressure
The arrest warrant comes at a sensitive moment for Miss Universe. The 74th competition, held in Bangkok, was overshadowed by disputes on and off the stage. Video from a pre event gathering showed a Thai organizer publicly berating Miss Mexico, Fatima Bosch, for not posting promotional content. He allegedly called her “dumb.” Bosch left the room as other contestants followed. The organizer later apologized, and Mexico’s president praised Bosch for speaking up. Bosch went on to win the crown.
Miss Universe president Raul Rocha Cantu weighed in strongly after the footage circulated online, saying the conduct was unacceptable. In a video statement, he addressed the organizer directly and stressed that respect for the contestants is non negotiable.
“I will not allow the values of respect and dignity towards women to be violated. I have great indignation towards Nawat for the public aggression he committed against Fatima Bosch, Miss Universe Mexico, whom he humiliated, insulted, and showed lack of respect to, with serious abuse by calling security to intimidate a defenseless woman. Nawat, you need to stop.”
The disputes did not end there. Two judges withdrew from the panel during the competition, one of them citing concerns that the process to select finalists lacked transparency. Thai police also opened an investigation into suspected illegal online casino promotions that appeared in connection with pageant content. The controversies fed a narrative of disorder at a time when the brand sought a smooth show in its home base for this year.
The Miss Universe Organization has said the legal case involving Jakrajutatip is separate from pageant operations. The pageant continues to schedule local and regional events under franchise partners, and the organization’s leadership has pledged to protect the well being of contestants and staff.
Where is Jakrajutatip now
Her location remains unknown as of this week. Local media have speculated that she may have traveled to Mexico, and JKN has denied claims that she liquidated corporate assets and fled. The company has not directly addressed the warrant. Without a public statement from Jakrajutatip, uncertainty has grown about whether she plans to attend the rescheduled court date. The court’s order suggests judges read her absence as an indicator that she might not come voluntarily.
Jakrajutatip has been a public figure in Thailand for years. She is known for her work on television and for speaking openly about her identity as a transgender woman. Her absence from the Miss Universe final in Bangkok drew notice among fans and industry insiders who had expected her to appear at the flagship event.
What happens next
The court set December 26 as the new date to deliver the verdict in the investor’s claim. The arrest warrant remains active to ensure her attendance. In Thailand, courts can issue such warrants to secure a defendant’s presence even in cases that focus on financial disputes. If police locate her, they can bring her before the court so the verdict can be formally read. If she appears of her own accord, the warrant can be addressed in court.
Jakrajutatip still has legal avenues to contest outcomes through the Thai system. JKN’s separate rehabilitation continues in the background, as creditors and the court oversee a plan to standardize payments and stabilize operations. The Miss Universe Organization, which JKN co owns with Legacy Holding Group, has said its management of the pageant carries on independently of the lawsuit. Rocha Cantu has expressed frustration over recent controversies and has discussed options for the business, while keeping the focus on improving events and safeguarding contestants.
What to Know
- A Bangkok court issued an arrest warrant for Jakkaphong Anne Jakrajutatip after she missed a hearing in a fraud case tied to a 2023 bond sale.
- The plaintiff, plastic surgeon Raweewat Maschamadol, says he lost 30 million baht (about 930,000 dollars) on JKN corporate bonds.
- The court rescheduled the proceeding to December 26 and deemed her a flight risk after she failed to notify the court of her absence.
- JKN defaulted on payments in 2023, then entered debt rehabilitation in 2024 with about 3 billion baht in obligations.
- JKN bought Miss Universe in 2022, later selling half of its stake to Legacy Holding Group USA, led by Raul Rocha Cantu.
- Thailand’s securities regulator accused Jakrajutatip of falsifying the company’s 2023 financial statements; she resigned from executive roles in June 2025 but remains the largest shareholder.
- Her location is unclear; JKN denied rumors that she fled the country or liquidated company assets.
- Miss Universe 2025 in Bangkok faced a string of controversies, from a public reprimand of the future winner to a police probe into suspected illegal online casino promotions.
- The Miss Universe Organization says the legal case is separate from pageant operations.
- The warrant allows authorities to secure her appearance so the court can read its verdict later this month.
