Martin Pipe and jockey Jamie Moore have been found guilty of breaching Jockey Club rules over the running and riding of Celtic Son at Exeter last October.
The pair appeared before the disciplinary panel at the Jockey Club on Thursday following Celtic's Son's fifth-place finish behind Salsalino in a novice event.
Pipe has been found in breach of rule 155 (ii) in that he failed to give adequate instructions to Moore to ensure the horse ran on its merits.
The rider has been found guilty under rule 157 in that he failed to take all reasonable and permissible measures to gain the best possible placing with the intent to conceal the horse's ability.
Pipe was fined £3,000 by the panel, with Moore given a 21-day suspension which runs from February 21 to March 14 - the day before the Cheltenham Festival begins.
Celtic Son has been banned from running for 40 days from February 21 until April 2, which rules him out of the Festival meeting.
