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Marinakis had been given a five match ban for spitting on the floor as the match officials walked past following Forest's 1-0 Premier League defeat by Fulham at the City Ground on September 28.
Nottingham Forest owner Evangelos Marinakis has lost his appeal against a five-game stadium ban.
The 57-year-old was found guilty of improper conduct for spitting on the floor as the match officials walked past following Forest's 1-0 Premier League defeat by Fulham at the City Ground on September 28.
In publishing its written reasons behind the decision, the commission said there was no excuse for such an an egregious display of disrespectful behaviour that could fuel disrespect towards match officials.
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Marinakis, who has already served three games of the ban, denied the charge according to the BBC.
"An Appeal Board has dismissed an appeal by Nottingham Forest's Evangelos Marinakis in relation to misconduct at their Premier League fixture on Saturday, 28 September against Fulham," said the Football Association.
"It was alleged that the behaviour of Evangelos Marinakis around the tunnel area after full-time of that match was improper. He denied this charge, but it was found proven by an independent Regulatory Commission, and a five-match stadium/ground suspension was imposed."
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The incident occurred after Forest, who are third in the Premier League, lost to Fulham following a VAR-awarded penalty.
Referee Josh Smith, assistant referee James Mainwaring and fourth official Tim Robinson submitted written statements saying they saw Marinakis spitting on the floor in their direction as they made their way to the dressing room.
In his defence, Marinakis claimed that he had a hacking cough because he smokes two or three cigars a day and the incident was unintentional.
The commission rejected this defence, pointing to the fact none of the officials' statements mentioned coughing and CCTV footage of the tunnel backed up that assertion.
The punishment came after boss Nuno Espirito Santo was given a three-game touchline ban for his reaction to Morgan Gibbs-White's red card at Brighton in October.
The head coach already had a one-game suspended ban, which was activated, for comments following Forest's 2-0 defeat at Everton in April.
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