The Malaysian bought out Bernie Ecclestone's majority shareholding at Loftus Road in the middle of August 2011, with the Rs then signing five players in the fortnight before the close of the transfer window.
Neil Warnock was in charge at the time following the club's promotion from the Championship and Fernandes, an airline owner and former Formula 1 chief, feels that he was exploited due to his limited dealings in football.
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"At the end of the day, we went with what the footballing side said."
Warnock recently criticised the effort of QPR's players and also hinted at the problems faced by Fernandes in his early days.
"The people in charge at the club are good people," the ex-Leeds boss opined. "Their hearts are in the right place and they're in it for the long haul but I think they got sucked into certain things when they first arrived at the club and, if they looked at it retrospectively, looking back on it I'm sure they'd do things differently."
Joey Barton, Luke Young, Armand Traore, Shaun Wright-Phillips and Anton Ferdinand were all brought in during the summer of 2011, with Nedum Onuoha, Djibril Cisse and Bobby Zamora following in the January window after Warnock was sacked and replaced by Mark Hughes.
Of those initial five, only Traore and Wright-Phillips are still regsitered squad members, with Barton and Ferdinand out on loan at Marseille and Bursaspor, respectively.
Young was ommitted from the 25-man squad list at the start of February due to injury and Cisse has been loaned out to Qatari outfit Al-Gharafa.