Yamaha aerox speedo bulbs and main light bulb keep blowing?

hi i have a aerox rossi rep on a 56 plate, first the light bulb blew and i got another and then that blew. i was riding it up a hill and it seemed to get fasterr and then when i pulled up loads of smoke came from around the front of the bike, it wouldnt start back up so i took it home and put new coolant in and went to put a new fuse in and when i put the fuse in it began to smoke from somewhere so i stripped it down to frame and sprayed WD-40 all over the loom and i plugged it in and there was no smoke and it kicked up first/second time, then i took it to a friend to have a look at the electrics and he said get a new stator on it because the old one had some wear on it, when he looked at the loom all the wires from the speedo down to the light were all burnt out andhe replaced them with new wires, even tho it has new wires and a new stator it still blows the speedo bulbs and the main bulb. i dont know what is wrong with it now i have been told to change the voltage regulator and my mate got a second hand one and it was still doing it. if anybody could help that would be great because i have no clue anymore what it could be any help would be appriciated as i just want to get it back on the road because its an amazing bike ( when it works) thanks in advance