My chain was definitely bunching in the drive sproket, and I fixed it by fabricating steel spacers for the rear mount, moving the rear wheel back, and making my own frame mount to increase chain tension as well as cutting the chain. Also...another big thing: look at how the chain enters your big sprocket. If the wheel is properly aligned the teeth will be in the middle of the space in each link. Mine entered to the side, which cased the chain to want to fall off, which it ended up doing many times.
Oh and I removed the tensioner...I don't trust it at high speeds, but I might use it when the chain stretches after a while.
Are you sure the tension cable is tight enough? Can you move the clutch arm with your own hand? If you can't, then it might be internal damage, but I doubt it. This is my first build, so I don't know much about these engines.
Good luck, I'm sure you can fix this...