First off, bad luck – I hope this horrible experience doesn't put you off lathes completely!
You have a thoroughly odd set of symptoms, my vote would be for a faulty motor except you've had it running off a 50V supply.
If it's not the motor and it's not the control board, then you need to look carefully at the wiring harness and how the motor and board are mounted. Check for likely shorts or cross-connections. Things like damaged insulation, exposed wires and cables nipped during re-assembly. (Trust nothing – factory mistakes aren't unknown.)
Unlikely the problem is down to the motor mounting, the harness is much more suspect. But particularly check the way the control board is mounted – the tracks underneath and to the sides should be well clear of the lathe's metalwork. The peculiar behaviour you're seeing may be due to an intermittent contact between the board's internal circuitry and the lathe. Not heard of it on a lathe, but other equipments have been reported with board bottoms shorting as a result of using stand-off pillars that are too short, missing, or made of steel rather than plastic. Also, contact due to excessively long bolts, or because an insulating plastic sheet is missing, or because swarf has got inside.
I hope you fix it – I had loads of fun with my mini-lathe.
Dave