Thailand's Commerce Ministry conducted a coordinated raid on Koh Phangan, investigating four high-risk businesses (large resort, rental villas, cannabis shop, luxury villa) suspected of using Thai nominees to mask foreign ownership. Officials found Thai directors holding shares in multiple companies unable to explain investment details; a cannabis retailer with 15M baht revenue; and a luxury villa locked with unclear ownership. The Interior Ministry ordered investigation of 104 entities holding 124 land plots. Penalties for Thai nominees can include 3-year imprisonment and fines up to 1M baht; foreign violators face identical charges. This signals escalating government enforcement on foreign ownership circumvention.