Sources indicate that the Thai Securities and Exchange Commission (SEC) is reviewing the operations of JKN Global Group Public Company Limited (JKN) and its CEO, Anne Jakkaphong Jakrajutatip.
The regulatory body has imposed sanctions, requiring JKN to pay a total of USD 120,000 and banning Anne from holding director or executive positions at listed companies for 56 months.
Billionaire Anne Jakkaphong has been fined USD 120,000 and banned from company management for 56 months. (Image: Instagram).
This decision follows an investigation into JKN’s activities by the Thai Stock Exchange in April of last year.
JKN was accused of wrongdoing in transferring the Miss Universe organization to Mexican businessman Raul Rocha. JKN denied these claims, explaining that they had discussions with various investors.
The investigation revealed that JKN, through a subsidiary, finalized the sale of a 50% stake in JKN Legacy, Inc. to Legacy Holding Group USA Inc. on October 20, 2023. Mr. Rocha subsequently became CEO of Legacy Holding Group USA Inc.
The Thai SEC concluded that JKN’s statements were potentially misleading, affecting investor decisions and JKN’s stock price.
The regulatory body affirmed that these actions violated Thailand’s Securities and Exchange Act. The Thai Civil Penalty Committee determined that both JKN and Anne Jakkaphong were liable for the civil penalty and investigation costs.
Anne Jakkaphong gained recognition within the beauty pageant community after her company purchased the Miss Universe franchise in 2022 for USD 20 million. This made her the owner of this prestigious international beauty competition.
Anne Jakkaphong became a prominent figure in the pageant world after investing $20 million in the Miss Universe franchise in 2022, (Image: Getty Images).
JKN Global Group, founded by Anne Jakkaphong, is a significant media company in Thailand. However, after two years of managing the beauty pageant, she faced potential bankruptcy and controversy surrounding her management style and the pageant’s organization.
In 2024, JKN filed for bankruptcy/restructuring. In January 2024, Anne sold a 50% stake in Miss Universe to Mr. Rocha’s Legacy Holding Group USA Inc. for USD 16 million.
Prior to her Miss Universe role, Anne Jakkaphong was a well-known businesswoman in Thailand’s media and entertainment industry.
She was involved in popular Thai programs such as Project Runway and Shark Tank, and played a role in bringing Indian films to Thai television, earning her the nickname “The Indian Content Queen.”
Anne Jakkaphong is a successful and wealthy businesswoman in Thailand’s entertainment industry. (Image: The Nation).
Reports suggest that she owns 15 companies, encompassing content distribution, news licensing, advertising, beverages, supplements, beauty products, and consumer goods.
In 2020, Anne Jakkaphong was ranked 149th on Thailand’s rich list. Forbes also listed her as one of the three wealthiest transgender individuals globally, with a net worth of USD 210 million in 2020.
Anne Jakkaphong’s success led her to become the first Thai national and first transgender woman to receive the Asia Media Woman of the Year award at the Asia Advertising Summit in Singapore in 2019.
Regarding her success, she stated, “Achieving fame and becoming a businesswoman is the only way for a transgender person like me to be respected. In the eyes of others, I am different and unconventional. To be valued, I have only one path: to succeed.”
