Anglo Irish Bank's former Chief Operating Officer Tiernan O'Mahoney has been acquitted of all charges against him at Dublin Circuit Criminal Court.
Mr O'Mahoney, 58, from Enniskerry in Co Wicklow, had denied charges of conspiring to destroy or falsify records of bank accounts linked to Anglo's former Chief Executive, Sean FitzPatrick.
He had also denied conspiring to defraud Revenue.
After legal argument, Judge Martin Nolan said the evidence of a conspiracy was too tenuous and could not go to the jury.
He said a conviction would be perverse as the jury would be asked to fill in gaps in the evidence heard at trial.
This morning, he told the jurors that the defence had made an application to him that the case should not go to the jury because of an absence of evidence to support Mr O'Mahoney's guilt.
Judge Nolan said he had granted that application and the foreman should sign the issue paper finding Mr O'Mahoney not guilty by direction of the judge.
He said it was an appropriate and normal application to make at the end of the State's case.
The judge said he had to consider it and decide it on its merits.
Mr O'Mahoney was first convicted in July 2015 and sentenced to three years in jail.
His conviction was overturned last year and a retrial ordered.
The conviction of another former Anglo official, Bernard Daly, was also quashed.
A third former employee of Anglo, Aoife Maguire, was jailed for 18 months after being found guilty of conspiracy to delete accounts and to defraud Revenue.
Her sentence was reduced on appeal.
The defence argued that the prosecution had not proved the necessary connection between Mr O'Mahoney and Ms Maguire - the person he was alleged to have conspired with.
The offences were alleged to have occurred between March 2003 and December 2004 when Revenue was carrying out investigations into bogus non-resident accounts.
In his ruling, the judge said there was every reason to be suspicious of Mr O'Mahoney's activities in October and November 2003 and his subsequent dealings with gardaí.
However, he said this was not enough, in the absence of formal evidence of conspiracy with Ms Maguire.
He said the evidence showed that Ms Maguire was a mere conduit for more powerful voices and was being directed.
Judge Nolan also said it was obvious the person who benefitted from the deletion of the accounts in question, was Sean FitzPatrick.
He said Mr FitzPatrick used the accounts to deal in Anglo shares for a prohibited period.
He added that Mr FitzPatrick breached the rules in relation to inside trading "for a petty reward".
The trial began last month and was expected to last up to six weeks. This was day 21 of the trial.