Amid bankruptcy and allegations of fraud, Thai owner of Miss Universe sells 50% stake to controversial Mexican businessman

Miss Universe is suddenly in the spotlight for all the wrong reasons. Thai billionaire Anne Jakrajutatip took over control of Miss Universe in October 2022.

However, as reported by various international media outlets, JKN Global Group has faced allegations of fraudulent activities. Within a year of acquiring Miss Universe, JKN Global Group filed for bankruptcy. In November of the previous year, a lawsuit was filed against JKN Group PCL (JKN), accusing the company of embezzlement. According to the lawsuit, JKN disseminated false information about the Miss Universe Coin (MU Coin) project, misleading the public by presenting it as a cryptocurrency project in which JKN, the company that owned the rights to Miss Universe, was not involved.

MUO (Miss Universe Organisation) ownership has changed hands multiple times since Donald Trump selling the business to IMG, then IMG selling to the Endeavor Group and finally Endeavor Selling the same to JKN Group of Thailand. Miss Universe was supposed to be the crown jewel amongst all the businesses of JKN Group. Miss Universe since inception has been a true blood American Business and the shift of management geographically to Thailand brought out its own issues. Clash of management styles saw most of its staff who have ably run the organisation for years either quitting or being asked to leave.

Apart from team troubles, the JKN Group has filed for bankruptcy while facing a lawsuit against it for 1 Billion Thai Baht filed by Thailand-based TCJ Social Media Group. In the midst of bankruptcy and lawsuit, many news portals have claimed that JKN Group has sold 50% of Miss Universe ownership to Legacy Holdings Group of Mexico owned by Mr. Raul Rocha Cantu, who is himself mired in controversy. According to a Washington Post report, Rocha Cantu is owner of a casino where 52 people died in an arson attack by suspected members of the Los Zetas cartel that rocked the country. In a nutshell, all the pieces of the business are up in the air and uncertain at various levels.

In the last few days, the world of beauty pageants has been abuzz following former Miss Universe president Paula Shugart’s public statement on Instagram calling out Anne Jakrajutatip of JKN Global Group.

Paula, who parted ways with Miss Universe after serving as president for 23 years stated, “Since announcing my resignation in November of 2023, I have sought to stay out of the spotlight, electing not to comment on any of the changes within the Miss Universe Organization, seeking only to quietly help the brand and its stakeholders, when requested, with my historical knowledge and guidance. However, recent false and outrageous comments made by Miss Universe owner Anne Jakrajutatip impugning my character have compelled me to break my silence.

She continued, “Normally, I would choose to ignore such assertions but, by suggesting that I am corrupt and took money ‘under the table’ to secure placements in Miss Universe competitions, Jakrajutatip not only defames me, but she also discredits the women who have won the Miss Universe crown by implying their titles were ‘bought’ and not earned by merit. I cannot abide by such dangerous and reckless assertions, which degrade the Miss Universe brand and its titleholders.”
Paula mentioned that she is contemplating legal action in Thailand against the owner of JKN, Anne Jakrajutatip, who is also a transexual activist. “However, given that my complaint will be just one of many legal actions currently facing the owner of JKN, it is imperative for the Miss Universe brand and its legacy that I immediately speak the truth and condemn these words before taking any action in Thai courts and I am reserving all rights to claim for damages. I have no intention or need to engage in drama on social media and I will not do so.

Anyone who knows me knows the truth and what I stand for. I will let my years of work with some truly incredible women speak for itself”
Paula is recognized for her efforts in promoting greater inclusivity within Miss Universe, including the decision to embrace transgender participation in 2012.

Furthermore, recent changes under her guidance allowed contestants who are married or have children to compete in Miss Universe.
Paula’s statement received support from other former Miss Universe titleholders such as Miss Universe 1991 Lupita Jones, Miss Universe 2010 Ximena Navarrete, and Universe 2016 Iris Mittenaer.

The Miss Universe pageant has been a longstanding tradition since several decades, showcasing some of the world’s most talented and beautiful women who embody the essence of the pageant. Miss India Organisation takes great pride in acknowledging the fantastic partnership it shared for decades with Miss Universe Organisation which saw some of the finest Miss Universe Pageants won by Indian Pageant representatives. Miss India Organisation and Miss Diva pageant has produced notable Miss Universe titleholders such as Sushmita Sen, Lara Dutta, and Harnaaz Sandhu who have truly reflected the values which MUO represented.

A spokesperson for Miss India Organisation explained, “We believe in the power of Miss Universe and the fact that it has been a well-reputed and respected Pageant. However, given the background of uncertainty wherein the owner JKN Group is under investigation owing to the lawsuit, plus lack of transparency on the business engagements with long standing partners, we have abstained this year from competitive pitching for the license. We are committed to the value system which MUO has always upheld and we hope JKN Group is able to come out as winners through this crisis and upholds the credibility and repute of Miss Universe and we will be the first pitch and win the license again for India.”