The FAI's Disciplinary Committee has taken the decision to ban the former FAI Cup winner after he was found guilty of breaching FAI rules concerning match integrity
In a statement, the FAI revealed that the decision, which was the result of a two-month long "detailed investigation" was made "with reference to sporting rules and procedures only".
"Following a two month detailed investigation involving Uefa, Fifa and An Garda Siochana, the FAI's Disciplinary Regulations Officer brought a case against the player to the FAI Disciplinary Committee.
"After hearing evidence from both sides, the FAI Disciplinary Committee found the Longford Town FC player had breached FAI Rules 95, 99.1, 102.1, 102.2a, 102.2e, 102.2f.
"This decision has been made with reference to sporting rules and procedures only. Any other action which may be taken is a matter for statutory authorities."
The allegations came to light in April 2013, when Longford Town announced that they had suspended a player while an internal investigation was conducted. The details of the allegations were also sent to the FAI who subsequently informed the world and European governing bodies, Fifa and Uefa, as well as Irish police.
James, 29, began his career with Shamrock Rovers before joining Bray Wanderers in 2002. The Dublin-born midfielder's career saw him play for several clubs, including Galway United, Longford Town and Shelbourne as well as Sporting Fingal, where he won the FAI Cup in 2009. The player has the right of appeal under FAI Rule 158.