As the card was for violent conduct, with Oliver claiming that Torpey kicked out at a visiting defender, he was handed a three-match suspension with immediate effect.
The club appealed, but after reviewing the incident the Football Association decided the ban should stand. It is believed the incident itself was not caught on camera.
Torpey will now miss the visit of Darlington on New Year's Day, the League trip to Mansfield and the glamourous FA Cup third round tie against Premiership leaders Chelsea at Stamford Bridge.
Laws told the Press Association: "He will be suspended, the decision has not been overturned and he will miss the next three matches.
"So we are looking to bring in another striker before Saturday."