"The same day, the Stock Exchange of Thailand (SET) announced it was delisting JKN Global after an appeals court rejected its debt-restructuring bid over issues regarding governance, management and misuse of funds, the Thai newspaper Khaosod reported. Raveewat's criminal complaint charged Jakrajutatip and JKN Global officials with lying and omitting key information to get him to invest in the company's corporate bonds they knew JKN Global wouldn't be able to repay."
"The company began defaulting on payments to investors in late 2023 and was in debt for 3 billion baht, about $93 million, by 2024. Jakkaphong has not appeared in court since being released on bail following her initial appearance on the fraud charge in 2023. Bangkok South District Court issued an arrest warrant for her in November and deemed her a flight risk when she skipped a court appearance. The hearing was rescheduled for Dec. 26, and Jakrajutatip again didn't show."
Bangkok South Kwaeng Court found Jakkaphong Anne Jakrajutatip and JKN Global Group guilty of defrauding a Thai plastic surgeon of 30 million baht. JKN Global was fined 40,000 baht while Jakrajutatip received a two-year prison sentence. The Stock Exchange of Thailand moved to delist JKN Global after an appeals court rejected its debt-restructuring plan over governance, management and misuse of funds. The company began defaulting in late 2023 and carried about 3 billion baht in debt by 2024. Authorities issued an arrest warrant after repeated court no-shows, and regulators later accused her of falsifying 2023 financial statements.
Read at www.mercurynews.com
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