Tinkler is a gambler who thought he could be a businessman.
Like most good gamblers he has an eye for value bets and backs himself. Unfortunately, like most gamblers, he's utterly clueless about risk. He also has NFI about the operational side of business. An apprentice sparky can't run a multimillion dollar company simply because he fell arse-backwards into money.
Anyone acquainted with the guy knew this from the beginning. It was only ever going to take one bet not coming off for the whole house of cards to come tumbling down. And no matter how good a gambler you are, you can't win 100% of the time. Tew and the board saw the writing on the wall, did the obvious and secured the club.
I feel sorry for Alex28 and the other mum and dad investors who were seduced by Tinkler's pretensions as a businessman and have lost money. He's just a cut-price Christopher Skase.