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I've done nothing wrong - Lee
Stephen Lee has insisted he is innocent of match-fixing and has said he will appeal against his 12-year ban.
The former world number five was found guilty of match-fixing charges relating to seven matches in 2008 and 2009. The 38-year-old angrily protested his innocence after the announcement of the sanction and is expected to lodge an appeal on Friday.
Lee said: "I'm absolutely devastated. I'll be meeting with my QC and we're going to look at the whole picture and start making some big holes - they've got no facts. I've done nothing wrong. I'm totally innocent.
"My kids are getting picked on at school and it's totally outrageous, what I've been put through."
The World Professional Billiards and Snooker Association had been seeking a lifetime ban but the organisation's head of disciplinary, Nigel Mawer, claimed the 12-year suspension and an order to pay £40,000 costs was effectively the same.
Mawer told Press Association Sport: "We did say we were seeking a life ban because it was seven matches that had been fixed including during the world championships.
"But in effect it is a life ban because I think it is highly unlikely that Stephen Lee will be able to come back to the sport at this level.
"We don't take great pleasure out of that - this is a case of a fantastic snooker player who has thrown it all away through making the wrong decisions."
In his written findings of the case, tribunal chairman Adam Lewis QC said that Lee was now in a "financially perilous state".
Lee refused to make details of bank accounts available to the tribunal, and was described by Lewis as an "unreliable" witness, and a "weak" man who had been taken advantage of by others.
The findings state: "These breaches occurred when Mr Lee was in a financially perilous state not entirely of his own making and was finding it difficult to obtain entry to enough tournaments.
"As a weak man in a vulnerable position he succumbed to temptation. I consider it unlikely that he was the prime mover or instigator of the activity. It seems to me likely that advantage was taken of him."