Robert Rizzo, who is charged with 53 counts of looting the modest, working-class suburb where one in six people live in poverty, has been racing a small stable of thoroughbreds primarily at Emerald Downs in Washington and in Northern California.
He was arrested in September and released Oct. 7 on $2 million bail.
The Daily Racing Form reports on its website that the Hollywood Park board of stewards on Sunday suspended his owner's license. Rizzo failed to appear at a hearing on Saturday to respond to charges of conduct detrimental to horse racing.
Prosecutors last week against Rizzo: one count each of misappropriation of funds and conflict of interest.
Rizzo was paid an annual salary and compensation package of $1.5 million to run a city of about 40,000 residents where one in six people live in poverty. Four City Council members who were paying themselves nearly $100,000 a year are also among those charged.
The scandal has provoked nationwide outrage and led to numerous investigations.
More Bell Coverage
Report: SEC Investigating Bell's Bond Sales
Home of Scandalized Bell Official Toilet Papered
Lawyer: Bell, CA, Owes Rizzo Severance, Back Pay
Residents Long Suspected Corruption in Bell
Bell Officials Misused $50 Million, Audit Finds