Leading owner Harry Findlay has been warned off for six months in connection with laying his own horse, Gullible Gordon, on two occasions.
Findlay, who joint-owns 2008 Gold Cup winner Denman, was found guilty of the offence by a British Horseracing Authority disciplinary panel.
He was charged by the BHA last month and told of the news on Friday morning.
Horses registered in his mother’s name, Margaret Findlay, are also unable to race while she remains owner or part owner during her son’s disqualification period.
Back bets had been placed both times on the Paul Nicholls-trained Gullible Gordon that significantly outweighed the lay bets.
The first charge made against Findlay revolves around the seven-year-old’s participation in a race at Exeter on October 21, 2008.
If Gullible Gordon, who finished sixth, had won, the profit would have been £23,755.60. The loss was therefore £62,321.26.
The second charge related to a race at Chepstow on October 10, 2009.
If Gullible Gordon had been defeated, the loss would have been £31,966.33. He won the race, so the profit was £35,245.30.
The BHA accepts there was no corrupt motive behind Findlay’s actions but insists he is technically in breach of the rules which must be enforced.
Findlay’s disqualification period begins today.
Findlay told At The Races: ``I have been suspended for six months. I am warned off from racecourses. The horses in my mum's colours can't run.
“They are trying to arrange the horses we’ve got with Michael Channon can run in his (Channon’s) colours and my mum is still allowed to go racing, though she won’t have any owner’s badges or anything.
“She will be able to go racing but she won’t. She’s hurt by this.
“The other horses that me or my mother own will run, if we can arrange it in time, in the Sangster family colours.”