Brendan Rodgers' side have been linked with a host of players as they look to strengthen their squad ahead of their maiden Premier League campaign.
While talks are still ongoing over deals to bring Wayne Routledge, Lee Camp and David Stockdale to the Liberty Stadium, Jenkins has spoken of his disappointment at seeing the Swans linked with players they are not attempting to sign.
He told the club website: "I know speculation and rumour is part of football, especially at Premier League level. But it is getting an absolute farce and it's not fair on the club or the supporters.
"If we had signed even 50% of the players we are supposed to be in talks with over the last few weeks, then we would not only have the biggest squad in the Premier League, but in Europe.
"It's turning into a farce and supporters are being misled and fooled every day with some of the players we are being linked with. It's disrespectful to our fans.
"For example, some of the foreign players we have apparently moved for we haven't even heard of. And to make matters worse, some of these players we have never spoken to have gone on to turn us down because we can't agree terms.
"It's important supporters are aware of this because when we have something definite to announce we will do so through the official website or direct statements through myself or the manager."
The statement on the club site goes on to re-iterate that the club have not moved for McFadden or Pavone, and says the first Swansea knew about any interest in the Argentinian striker was when his agent arrived at the club training ground and requested to speak to Rodgers.
McFadden is a free agent after leaving Birmingham at the end of last season, while Pavone, who is said to have been in talks with Blackburn, was released by Real Betis.