Arrest warrant out for Miss Universe co-owner over alleged fraud
A Thai court has issued an arrest warrant for Jakkaphong Jakrajutatip, the embattled media mogul who co-owns the Miss Universe Organization, over allegations she defrauded an investor in a corporate bond deal.
The warrant stems from a lawsuit filed by businessman Raweewat Maschamadol, who claims he lost 30 million baht (US$930,000) after purchasing JKN Global Group bonds in 2023.
Jakkaphong and JKN are accused of misleading him on the investment’s viability, according to the court.
JKN, which bought Miss Universe from IMG in 2022, has been in financial crisis since defaulting on bond payments last year. The company entered rehabilitation proceedings in 2024, declaring roughly 3 billion baht (US$93 million) in debt. It later sold half its stake in Miss Universe to Mexico’s Legacy Holding Group.
Jakkaphong stepped down from all executive posts in June after the Securities and Exchange Commission accused her of falsifying 2023 financial records, though she remains the largest shareholder.
Her location is currently unknown. She did not attend the Miss Universe pageant in Bangkok earlier this month.
As with its co-owner, Miss Universe itself was dogged by controversy this year, including accusations of mismanagement, two judges withdrawing over alleged rigging, and a police probe into illegal online gambling promotions tied to event marketing.
Miss Universe has said the legal case is unrelated to its operations.
On Monday, JKN denied rumours that Jakkaphong had liquidated assets and fled Thailand. The company has not commented on the arrest warrant, and attempts to reach her were unsuccessful.
This story is written and edited by the Global South World team, you can contact us here.
