Birmingham owner Carson Yeung is assisting police in Hong Kong in relation to criminal investigations being carried out in his homeland.
But City's acting chairman, Peter Pannu, insists the inquiries have "nothing to do" with the club's holding company, Birmingham International Holdings.
Yeung took control of Blues mid-way through last season in an £81 million takeover from David Sullivan and David Gold.
City, in a media statement, reported: "Birmingham City's acting chairman Peter Pannu wishes to inform the public that Carson Yeung is assisting the police in Hong Kong in relation to certain criminal investigations which at this stage he believes do not have any connection to the operation of the parent company or any of its subsidiaries."
Pannu added: "I have just had a call from the Birmingham International Holdings lawyers informing me of the position in Hong Kong.
"I have also been informed by them that Carson is assisting with enquiries that have nothing to do with the operation of BIHL in Hong Kong and therefore nothing to do with the operation of the club, and relate to other matters.
"People are reminded that in recent years members of the previous board were placed on bail for a significant amount of time and nothing came of it.
"I am only using this as an example to calm any fears. The law says a person is presumed innocent until proven guilty.
"Until I find out more information about this matter there is no further comment to be made."
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