The appropriate consequence is a lifetime ban.
This accomplishes two things . One, it shows that the USPSA management won't tolerate crooked BS. Don't think for a second this guy was the only one "cooking the books" with his shot timer. While I won't dare claim score cheating is a league epidemic, this sends a signal to the rest of the rats to cut the crap now or else.
Two, the credibility of USPSA itself is on the line. If they soft pedal this , what does that say to the competitors who were affected by this guys ethical failures? I'd hate to be a shooter who went home sour because he shot a poor match, only to realize later it was tainted by some cheater who mucked with his time. On the flip side, I'd also hate to be the guy who benefited from the cheating either. How many folks are holding titles they unknowingly possess via fraud?
Forgiveness has its place. This isn't it. The guys done too much damage to the league and to the careers of multiple competitors for that to be an option. If he'd embezzled money from the organization he'd be banned without a second thought-and he's really done something worse then appropriate money. He's cast doubt on the abilities of every shooter he's ever ROd.