A Co Down businessman has been found not guilty of fraud connected to the sale of NAMA's Northern Ireland loan book.
Frank Cushnahan had been charged in relation to his role as an adviser to the agency set up by the Irish Government in 2009 after the property crash.
The 84-year-old from Alexander Gate in Holywood denied a charge of fraud by failure to disclose information in 2013.
It was alleged that between April and November that year, he provided assistance to an American firm called Pimco about the purchase of the NAMA loan book but did not tell NAMA even though, the prosecution said, he had a legal duty to do so.
The prosecution had alleged that Mr Cushnahan acted dishonestly by secretly working on a deal with Pimco in the expectation that he would receive a success fee of around £5m.
Ultimately Pimco withdrew its interest in the loan book in March 2014 and the following month the portfolio codenamed Project Eagle was purchased by Cerberus in a deal worth over £1bn.
The jury of nine men and three women at Belfast Crown Court delivered a majority not guilty verdict this afternoon after three days of deliberations
Madam Justice McBride then told Mr Cushnahan: "You have been found not guilty by the jury so you are free to leave."
Outside the court Frank Cushnahan's lawyer said the businessman could not comment because he is still facing a separate charge in connection with the case, which he denies.
"Obviously we are delighted with today's outcome," said solicitor Paul Dougan.
"Mr Cushnahan is very grateful to the jury for their deliberation, he's very grateful for their patience and for their attention to what was a lengthy and at times a difficult trial."
He added that Mr Cushnahan was also grateful to his friends and family "who have stood by him over these last difficult months and years".
When asked how his client was, Mr Dougan replied: "He's relieved, he's tired. At the end of the day he's an 84-year-old man. He hasn't missed one day of this trial, he's never been sick.
In closing submissions last week a lawyer for Mr Cushnahan said he had "lived a life of character assassination, interrogation, prosecution and some would say persecution for the past ten years".
Frank O'Donoghue KC told the court that instead of acting in his own self-interests at a time when the Northern Irish economy was "on its knees", his client "was prepared to get up off his backside" to try and encourage investment.
Frank Cushnahan is due back in court again later this month, along with a co-accused who is facing five charges in connection with the sale of the property portfolio.
