Oldham director Barry Owen says Cristian Montano may face disciplinary action from the club after he was among six men to be arrested following an investigation into spot-fixing by the National Crime Agency.
The six suspects have been bailed until April but Montano has been suspended without pay by Oldham, having featured in a video which was secretly filmed by The Sun on Sunday.
The video appears to show Montano apologising to fellow player Sam Sodje for failing to get a yellow card in the first half of a League One game against Wolves on 22 October.
Regarding the decision to suspend Montano, Owen said: "It was a difficult decision but you've got to remember the board were involved in discussions all day Sunday.
Video evidence important
"Our case is a little bit different than some of the other clubs, in the fact that we had video evidence to consider.
"While we didn't want to pre-judge any investigation, criminal or otherwise, we had to make a decision based on whether there was gross misconduct that may lead to further investigation within the club, leading to a disciplinary inquiry anyway.
"So, it's on that basis that Christian Montano has been suspended pending our investigations, which are quite apart from the National Crime Agency, and with a view to possible disciplinary proceedings in the near future."
Owen said the decision had received the blessing of the club's solicitors and stressed that the video evidence was considered crucial.
"We took the trouble to run this past the solicitors before we decided on any action and we were given the go-ahead," he said.
"That is not to say that we are pre-judging anything to do with Christian. The investigation must take its course with the crime agency.
"I know they have been bailed until April but in the meantime, we are a family club, we have our image to consider, we have our fans to consider.
"Based on the video evidence alone, it was necessary to launch our own investigation and make some decisions separately.
Campbell sits out training
"Other clubs probably haven't been able to make a detailed analysis of what their players have been involved in because they are faced with allegations, not the sort of evidence that has been available to us at this stage."
Five of the six men to be arrested are footballers, including Blackburn forward DJ Campbell.
Blackburn have told Sky Sports the striker didn't train on Tuesday, as he helped police with their enquiries.
They say discussions are ongoing between all parties, which include the club, lawyers and Campbell's representatives.