If he's been doing something illegal, I'd revise my opinion, but I think it's a pretty great stretch to suspect this to be the reason at this point.
And for your second point, yes, it is comical. You hire someone in that position because you believe he is the best. And the whole ordeal with Newcastle would imply they believed that and planned for it. But when positions of this magnitude are concerned, you can't just change your mind a few months later and sack him. It's lunacy and it puts your decision making in significant doubt. A DoF represents the long term vision of the club. INEOS chose him and chased him for months and spent millions on it. So, did the vision change on a dime? I don't know, man, that's crazy to me.
Unless they suddenly pull a Txiki Bergeinstein out of nowhere, or poach Hugo Viana... even then, what's the guarantee they don't get sacked in half a year?
Nah, I don't believe in this people.