An emotional Darren Weir was on Wednesday disqualified for four years by the Racing and Appeals Disciplinary (RAD) Board.
Weir had his head bowed and appeared to wipe away tears as RAD Board chairman Judge John Bowman listed Weir's accomplishments before handing down the penalty.
"It is sad it has come to this. You are a 48-year-old man who has completed a rags to riches rise in the racing world," Bowman said.
"You rose from the depths of the Mallee to be Australia's greatest trainer.
"All of this makes your fall even sadder."
Bowman and deputy chairman Brian Forrest were of the belief a four-year disqualification was satisfactory, while deputy chairman Josh Bornstein believed five years was appropriate.
Earlier, the RAD Board heard three electronic devices, or 'jiggers', were found in the master bedroom at Weir's Ballarat property.
At a marathon show cause hearing with Racing Victoria (RV) stewards on Monday, Weir chose not to contest three charges issued against him under AR 175(hh)(ii) for possession of an electric or electronic apparatus capable of affecting the performance of a horse; and the charge issued against him under AR175A for conduct prejudicial to the image, interests or welfare of racing.
RV stewards made a recommendation to the RAD Board that Weir be disqualified for a period of four years.
Weir pleaded 'no contest' to the charges via his barrister, Patrick Wheelahan, on Wednesday.
The two charges in relation to failing to give evidence at an inquiry/comply with direction of stewards were not pursued.
"It is the position that he has reached an agreement with the stewards, that a four-year period of disqualification is an appropriate penalty for the charges to which Mr Weir is pleading no contest," Wheelahan said.
Acting for Racing Victoria, Jeff Gleeson QC said there was absolutely no reason for Weir to be in possession of jiggers, and the fact they were found in his bedroom ensured Weir had "a direct & personal knowledge" of the devices and "a desire to conceal".
Gleeson said Weir's actions have greatly tarnished the image of racing.
"With reputation, with privilege, comes responsibility," Gleeson said.
Gleeson admitted Weir's desire to work with stewards to sort the matter swiftly was significant in determining an appropriate penalty.
Wheelahan said Weir was determined to get the matter resolved as quickly as possible, given previous cases involving other parties had dragged on, costing the industry millions of dollars in legal fees and causing further damage to the sport's image.
Gleeson said stewards considered seeking a monetary penalty, but formed the view that a disqualification was more appropriate.
Should any new evidence come to light, Weir may face further charges, while criminal charges also remain a possibility, with Victoria Police continuing their investigation.
Weir, who did not comment after the ruling, has won the past five Melbourne trainers' premierships, and last season set a commonwealth record with 491 wins.
The 48-year-old has won 36 Group 1 races, including the 2015 Melbourne Cup with 100-1 shot Prince Of Penzance.
Weir's disqualification, which is effective immediately, means he is completely expelled from racing.
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