Blitz insists that the loan was a personal deal with no connection to Athletic but there is a possible conflict of interests as football investors are not supposed to get involved with more than one club.
The loan was offered when QPR were going through serious cash flow problems and everything was registered through the correct channels, with the loan being secured against QPR's star player Lee Cook.
It is not expected that the outcome of the investigation will have any serious consequences for Blitz or QPR and may result in a 'slap on the wrist' for both parties.