“The attorney general’s announcement today was a long time in coming,” he said. “I’m certainly heartened that his ordeal, an absurd one at that, is now ended. We are going to savor these holidays and we are going to move on with our lives.”

Attorney General Catherine Cortez Masto said today she will not seek a new indictment, nor will she appeal a Clark County District Court decision dismissing the four felony charges against Krolicki for the alleged mismanagement of the program.

New charges against Kathryn Besser, who was Krolicki’s chief-of staff as treasurer, will not be pursued either. Besser now serves as Krolicki’s chief-of-staff in the lieutenant governor’s office.

Krolicki said he hopes inquiries are made with the attorney general’s office, “to account for this fiasco.”

“The power of a prosecutor is profound and there needs to be accountability,” he said.

Masto’s prosecution was rejected by two separate judges, and Krolicki said she had no facts to support her office’s ongoing actions.

“I hope she would apologize to Kathy Besser, who is an extraordinary public servant, and to my family,” Krolicki said.

Masto’s decision brings a close to the case against Krolicki and Besser, who were indicted in December 2008 following a 2007 audit of the $3 billion, college savings program run by the treasurer‘s office. No state funds were missing but Krolicki was accused of not following state budgeting rules.

The attorney general’s office failed to return repeated telephone calls seeking comment on the matter.

Krolicki, who is expected to run for re-election as lieutenant governor, said all along the charges were politically motivated. Krolicki is a Republican and Masto is a Democrat.

A trial on the charges was set to begin Dec. 14, but on Monday Clark County District Judge Valerie Adair dismissed the indictment.