Thai SEC orders Miss Universe CEO Anne Jakrajutatip to pay P7-million fine
Miss Universe Organization CEO Anne Jakrajutatip.
A finance and economy news platform in Thailand has revealed that Miss Universe Organization (MUO) CEO Anne Jakrajutatip and her conglomerate were ordered to pay fines amounting to 4.1 million baht, or roughly P7 million.
The penalty stems from what the Thai Securities and Exchange Commission cited as false information regarding the sale of the MUO that Jakrajutatip’s JKN Global Group reported to the government agency, Money & Banking Magazine reported on Tuesday, April 22.
In the report, it was mentioned that the Thai SEC determined after civil penalty proceedings against two offenders, JKN Global Group Public Co. Ltd. and Chakkraphong Chakrajutatjip (Jakrajutatip’s government name), that they must pay THB4,124,078 in fines.
The Thai SEC also banned both JKN Global Group and Jakrajutatip from assuming directorships or holding executive positions in publicly-listed companies for “56 months” (four years and eight months).
When reports came out in January last year that Jakrajutatip had sold half of her stakes in the MUO to the Legacy Holdings Group of Mexican tycoon Raul Rocha, the Thai SEC sought clarification from her and JKN Global Group.
The Thai business and media mogul and her listed company reportedly told the Thai SEC that they were still searching for possible investors for the MUO at the time.
But the Thai SEC learned that the sale had materialized as early as October 2023, or three months prior to the release of the news reports it sought clarification for.
Set for appeal
Embattled MUO part-owner Anna Jakrajutatip (left) and reigning Miss Universe Victoria Kjær Theilvig. ANNE JAKRAJUTATIP FACEBOOK PHOTO
MUO has released a statement on Wednesday, April 23, to affirm its “operational independence,” and to distance itself from the legal predicament involving JKN Global and Jakrajutatip.
“These legal proceedings are entirely separate from MUO’s operations. MUO is not a party to the investigation or appeal, and has not been implicated in any wrongdoing,” the statement said.
The organization’s statement also stated that Jakrajutatip and JKN Global Group are set to appeal the Thai SEC’s decision “by presenting comprehensive evidence in its defense.”
Controversies after another
This was not the first time that Jakrajutatip and JKN Global got embroiled in a huge financial controversy. They had previously been remiss in remitting dividends to their investors, failing to fulfill the predetermined period for payments, resulting in the liquidation of some assets.
Jakrajutatip bought the entire MUO from IMG in 2022, becoming the first woman and non-American to own the organization and the three pageants under it–Miss Universe, Miss USA, and Miss Teen USA.
Earlier today, reports came out stating that another Thai personality, Miss Grand International founder and Pres. Nawat Itsaragrisil, has been appointed as MUO executive director.
Before this, several developments involving him and the MUO took place. In February, Itsaragrisil’s Miss Grand International Public Co. Ltd. acquired the license to mount the Miss Universe Thailand pageant for five years starting in 2025.
A month later, the MUO announced that Itsaragrisil and his Miss Grand International group will mount the 74th Miss Universe pageant hosted by Thailand.
The 2025 Miss Universe pageant will be held in November, with more than 100 delegates from around the world set to visit Bangkok, Pattaya, and Phuket.
The 74th Miss Universe coronation show will be held at the Impact Arena in Muang Thuong Thani on Nov. 21. Reigning queen Victoria Kjær Theilvig from Denmark will crown her successor at the end of the competition.
