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Thai transgender billionaire and pageant magnate Anne Jakrajutatip, CEO of JKN Global Group, is facing an arrest warrant for alleged embezzlement. The arrest warrant was issued after Jakrajutatip and four other JKN executives failed to appear in court for a third time in connection with a lawsuit filed by TCG Social Media Group.

Transgender Thai Billionaire and Pageant Mogul Faces Arrest Warrant for Embezzlement

Bangkok Insight reports that JKN Global Group, led by transgender billionaire Anne Jakrajutatip, is embroiled in a legal battle with TCG Social Media Group over allegations of embezzlement.

Ms. Jakrajutatip and four other JKN executives are accused of diverting assets from the manufacturing plant of MN Beverage Co. Ltd. without informing TCG Social Media.

According to Thai media, investigators have summoned Ms. Jakrajutatip twice for questioning. A second summons was scheduled for February 29, but JKN Global Group sent representatives to request a postponement.

The rescheduled hearing was set for March 19, but Ms. Jakrajutatip and the four executives failed to appear. As a result, police in Kabinburi province are considering issuing arrest warrants for Ms. Jakrajutatip and the other JKN executives.

TCJ Social Media Group and JKN Global Group had agreed to collaborate on the Miss Universe Coin project, which aimed to issue 50 billion baht worth of cryptocurrency. However, Ms. Jakrajutatip allegedly made statements claiming that Miss Universe Coin was a scam and discouraged people from purchasing it.

In 2015, IMG acquired the Miss Universe Organization from billionaire Donald Trump. In recent years, the Miss Universe pageant has undergone format changes, but viewership has declined steadily. According to NPR, IMG sold the rights to Miss Universe to Ms. Jakrajutatip for $20 million.

Rumors have also circulated that Ms. Jakrajutatip, a prominent figure in the pageant industry, has been facing financial difficulties.