MU 'boss' 'empty-handed' for 56 months, Nawat is pleased to take full control of MU 2025?

Thailand's securities regulator has taken action against JKN Media Group and its CEO Anne Jakapong Jakrajutatip for disseminating information related to the sale of the Miss Universe Organization (MUO).

The regulator imposed civil sanctions, ordering a total payment of 4.1 million baht (about $120,000) and barring Anne from holding a director or executive position at a listed company for 56 months.

The move follows an investigation initiated by the Stock Exchange of Thailand (SET) in April 2024. The investigation concerns a statement made by JKN via the SETLink system on January 22, 2024.

JKN then denied online reports that it had sold the Miss Universe organization to Mexican businessman Raul Rocha. JKN said it had held discussions with various investors, but no firm agreement had yet been reached.

However, subsequent investigation revealed that contrary to this statement, JKN, through its subsidiary, JKN Global Content Pte. Ltd., entered into an agreement to sell 50% of its shares in JKN Legacy, Inc. to Legacy Holding Group USA Inc. on October 20, 2023. Raul Rocha then served as CEO at Legacy Holding Group USA Inc.

The Securities and Exchange Commission of Thailand concluded that JKN's previous statement was inaccurate and could mislead investors, potentially affecting decisions regarding JKN's shares.

The regulator found that this conduct constituted a violation of Section 240 of the Securities and Exchange Act BE 2535 (1992). Ms. Anne, as the individual responsible for the company’s operations, was subject to the same penalties under the relevant provisions of the Act. The Civil Penalties Commission (CPC) found that both JKN and Ms. Anne must pay a civil penalty and investigative costs, amounting to more than 2 million baht. In addition, Ms. Anne was banned from serving as a director or manager for 56 months.

The sanctions are enforced after the parties involved sign a consent agreement. If Ms. Anne and JKN refuse to comply, the Securities and Exchange Commission of Thailand will instruct the public prosecutor to file a civil lawsuit, seeking the maximum penalty allowed under Thai law.

JKN Global Group, founded by Anne Jakkaphong Jakrajutatip, is a major media company in Thailand that made headlines when it bought the Miss Universe organization for $20 million in 2022. However, after two years of running the beauty pageant, the transgender billionaire faced the risk of bankruptcy. JKN Group filed for bankruptcy/business recovery in November 2023, exactly one year after acquiring the pageant.

In January 2024, Ms. Anne sold 50% of Miss Universe shares to Mr. Raul Rocha's Legacy Holding Group for 16 million USD.

This incident seems to have caused Ms. Anne Jakkaphong Jakrajutatip to fall into crisis. This is said to be the reason why Mr. Nawat - President of Miss Grand International pageant was appointed as Executive Director of Miss Universe organization.

It is known that Mr. Nawat and the Miss Grand International team will be responsible for organizing the Miss Universe 2025 season in November in Thailand. "His visionary leadership and tireless dedication continue to raise the standards of beauty pageants across the Miss Universe system," the Miss Universe organization shared about Nawat's new role.

The news that Mr. Nawat became the new CEO of Miss Universe caused controversy on many beauty forums. Many people expressed disappointment.

"Miss Universe is no longer luxurious", "Like a pot of pig porridge", "The end of Miss Universe has come", "Miss Universe is about to become a second circus"... are comments from the audience.

Ms. Anne: the Thai billionaire who declared Vietnam in the Top 5 of MU, almost went bankrupt, who is she? Hany Đan17:11:01 16/04/2025Anne Jakrajutatip, born in 1979, is a transgender billionaire from Thailand and is the CEO of JKN Global Group. Famous for her acquisition of Miss Universe, she went through a difficult period before building a powerful media empire.