Sorry, your theory doesn't wash with me.
You're not talking about Arpaio and his investigation, are you? You did say "private" investigator.
Ummm...why would a “private” investigator wait all of this time to divulge the information to their client?
And as explosive as such information could be what client in their right mind wouldn’t want to ‘cash in’ (euphemistically speaking of course) on such information once it was known?
The subject, or rather subjects, of the investigation is the guy in the White House and everyone connected to his real identity and those who helped provide cover and lies to promote the fake identity. Obviously ongoing research, if made public, would alert these subjects to the avenues being looked at, how much is known, and so on. Leading to the erasure of information, and perhaps real harm to some people.
The “clients” - there are none, that would mean someone is paying for the research. The research is being done as a public service, and results are shared with those who can and are doing something about it. It is ongoing.
Sorry, your theory doesn’t wash with me.
It’s not “my theory”, it’s the simple truth, very simple and obvious.