Krolicki, who is expected to run for reelection as lieutenant governor, issued a statement saying he can now put the awful experience behind him.

“It’s been a tough year,” he said. “They tried to wreck him politically and personally. Today is a good day.”

Krolicki can now run for reelection with a clean slate, Erwin said. Krolicki has announced he intends to run again but will probably evaluate that decision again with his family, he said.

“I fully expect him to run for reelection,” Erwin said.

Asked if Masto might pursue an appeal or some other legal action to keep the case going, Erwin said anything is possible.

“Most Nevadans believe this was a ridiculous partisan prosecution,” he said. “I can’t imagine anyone in good conscience spending additional tax resources on a crusade like this.”

Masto is a Democrat and Krolicki is a Republican.

The charges against Krolicki were filed in December 2008 after a 2007 audit of the $3 billion, state-run college savings program. He was charged with four felony counts, two for misappropriation and falsification of accounts by a public officer, and two for misappropriation by a treasurer.

No state funds were missing but Krolicki is accused of not following state budgeting rules.

A trial was to get under way on Dec. 14.

“I would not have been able to make it through this process without the support of many who have stood by me,” Krolicki said. “I am grateful for the outpouring of support and appreciate everyone who has been so encouraging throughout this awful process. I am proud to have my name cleared and that we can begin moving forward.”