Miss Universe Under Scrutiny: Creditors Allege Potential Fraud in JKN Global Group Finances

Miss Universe President Raúl Rocha Cantú and Miss Universe owner Anne Jakkaphong Jakrajutatip

Miss Universe Under Scrutiny: Creditors Allege Potential Fraud in JKN Global Group Finances

By Bing Jabadan – TheNationWeek.Com | November 11, 2025

BANGKOK, Thailand – November 9, 2025 – A power struggle is intensifying within JKN Global Group Public Company Limited (JKN), potentially jeopardizing the future of the Miss Universe Organization.

Following the court-appointed interim management by Grant Thornton, the Creditors Alliance, representing a significant majority of JKN’s debt holders, has issued a statement demanding transparency, accountability, and a thorough investigation into alleged financial irregularities related to the Miss Universe pageant.

The Creditors Alliance, wielding considerable influence, is pushing for a complete overhaul of JKN’s leadership and operational practices.

Their statement calls for the immediate establishment of a professional management team tasked with safeguarding stakeholder interests and ensuring transparent governance across all JKN subsidiaries, with a particular focus on the Miss Universe intellectual property rights.

Allegations of Misconduct and Financial Irregularities Surface

The Alliance’s demands extend far beyond simple restructuring.

It is proposing a memorandum of understanding (MOU) that mandates a special audit to address concerns about potential delays orchestrated by previous leadership.

The audit aims to uncover any instances of misconduct, fraud, or asset misappropriation.

Its statement also highlights concerning allegations surrounding share transfers related to the Miss Universe company.

The Creditors Alliance is demanding a full investigation into questionable transactions, including potential backdated agreements and the transfer of shares from JKN’s Thai entity to its Singapore counterpart—actions that may have been designed to circumvent oversight by Thai regulatory bodies.

Miss Universe Payments Under the Microscope

The financial dealings of Miss Universe abroad are also facing intense scrutiny.

The Creditors Alliance is calling for a thorough examination of payments made to Legacy Holding Group USA Inc. and Legacy Equity Group SA de CV, firms reportedly linked to Mexican businessman Raul Rocha Cantú.

The Alliance is urging Cantú and other foreign executives to travel to Bangkok to clarify the nature of the transactions, with documentation already submitted to the Securities and Exchange Commission for review.

Scandal Potential: Fraudulent Creditor Claims

Adding another layer of complexity, the Creditors Alliance is demanding verification of the identities of all creditors involved in the bankruptcy voting process.

The move suggests a suspicion that some individuals or entities may have submitted fraudulent claims or misrepresented their creditor status, potentially influencing the outcome of the restructuring.

The Future of JKN and Miss Universe Hangs in the Balance

The Creditors Alliance concludes its statement by emphasizing its commitment to the long-term sustainability of JKN Global Group, rebuilding investor confidence, and ensuring fairness for all stakeholders.

As the Miss Universe brand remains JKN’s crown jewel, the global pageant community is anxiously watching as this dramatic restructuring unfolds.

The success of the new management team in stabilizing operations, upholding the brand’s integrity, and addressing the serious allegations of financial misconduct will determine the future of both JKN Global Group and the Miss Universe pageant.

The stakes are high, and the world is watching.