Now the problem is that nobody knows what would of happened if Graham hadn't dived and St. Johnstone hadn't scored as a result ? Saints might have scored anyway, so awarding points to ICT retrospectively isn't really an option. You could suggest deducting points from Saints, but any decent lawyer would argue that the club should not be punished for the misdemenour of the player, unless they specifically told him to dive. The only realistic option is therefore to punish the player, which is what they have done.
I'm not condoning what he did, just pointing out that the authorities are limited in what they can do.