The Miss Universe competition has been overshadowed by legal drama as its owners face charges of fraud in Thailand and an investigation into drugs and weapons trafficking in Mexico just days after the latest pageant concluded.

The Miss Universe Pageant, which once belonged to United States President Donald Trump, has been owned by Thai mogul Anne Jakkaphong Jakrajutatip and her company, JKN Global, since 2022.

Jakrajutatip is wanted in Thailand after she failed to attend a Bangkok court hearing this week over a 30 million baht ($930,000) legal dispute with an investor in JKN Global. The Bangkok South District Court said on Wednesday that it had issued an arrest warrant for Jakrajutatip, whose current whereabouts are unknown, according to Thai media.

Jakrajutatip and JKN Global have been facing major balance sheet problems since 2023, when the company began to default on payments to investors, according to the Associated Press news agency. The company filed for rehabilitation with a Thai bankruptcy court in 2024, and reportedly owes about3 billion baht ($92.63m), according to the Associated Press.

Earlier this year, Jakrajutatip and JKN Global were sanctioned by Thailand’s Securities and Exchange Commission (SEC) for publishing “false or misleading information” in the company’s financial statement, and were fined 4 million baht ($124,000).

The SEC statement said JKN Global did not fully disclose to investors that it signed an October 2023 agreement to sell 50 percent of its shares in the Miss Universe Pageant to Mexican businessman Raúl Rocha Cantu and his company, Legacy Holding Group USA Inc.

Jakrajutatip resigned from all positions in the company, but she is still a shareholder following the sanction, according to AP. She also did not attend the latest Miss Universe competition in Bangkok earlier this month.

Cantu is facing separate legal troubles in Mexico, where prosecutors said on Wednesday that he was under investigation for alleged arms, drug and fuel trafficking between Mexico and Guatemala, according to the AFP news agency.

Prosecutors charged 13 people in connection with the case, although Cantu has not been formally named yet, the AFP said.

The Miss Universe Pageant concluded on November 21 following a series of scandals throughout the competition season, including allegations that the competition was rigged. (Al Jazeera)

• Miss Mexico Fatima Bosch celebrates winning the 2025 Miss Universe Pageant in Nonthaburi, north of Bangkok, on November 21, 2025 [Lillian Suwanrumpha/AFP]