Former Livingston FC chairman Dominic Keane cleared of £2.3m fraud

He was accused of duping lottery winner John McGuinness and businessman William Haughey into a fraudulent loan refinancing deal to develop the club.

But today he was cleared of accusations that he had pretended to Mr McGuinness that Mr Haughey had already signed the five-year loan deal.

The jury of 12 men and three women also rejected allegations that Keane, a former Celtic director, knew Mr Haughey's signatures were forged.

Keane shouted "yes" when the jury returned a verdict of not guilty.

Outside court he said: "This has been a nightmare for the last four years and now it's all over.

"And honestly I just want to go home and be with my family."

He refused to comment on his feelings towards Mr Haughey, who had given evidence against him.

Ruling out a return to football, he added: "I'm going to enjoy the rest of my life.

"It's been four years this has been going on for now and it's taken its toll.

"But at the end of the day I'm just so pleased that so many people who I know behind the scenes have supported me and I'm so grateful for all the witnesses – Crown and defence witnesses – who stood up and counted at the right time."

Keane got involved with Livingston in the late 1990s with "ambitious" plans for its future.

With his two business partners he was part of a rapid progression through the football league to top-flight status.

The club's rags to riches story culminated in European matches and a number of cup ties.

An original loan was struck with Royal Bank of Scotland to finance their dream and fund an upgrade to the stadium, essential for SPL status.

During Keane's eight-day trial, the court heard the plans stumbled when Livingston failed to win promotion in the first year of his involvement.

Keane and Mr Haughey had a number of fall-outs and Mr Haughey's involvement reduced over time, the court was told.

Repayment on the loan was due within six months but this did not happen, prompting the re-financing package.

In court, Keane was described as a highly committed man who showed "24-7" devotion to the club. But prosecutors said he was motivated only by a drive for profit.

When Keane took the stand earlier this week he insisted a "concession" letter in which he accepted blame for the club's financial mess was "not true".

He said the letter – which describes Mr Haughey's signatures as forgeries – had been written to get "peace" after a shouting match.

Keane previously told the court: "It's not true, it couldn't be true. I'd been a partner from the start – how could it possibly be true?"

The trial also heard conflicting claims over where the three men were when the loan re-financing papers were signed.

Keane said all three partners had been together in Hampden Stadium to sign the loan on April 14 2001, during a cup tie between Livingston and Hibernian.

The jury rejected the charges that the papers were signed at Larkhall and elsewhere and that Mr Haughey's signatures were forged.

Handwriting experts had cast doubt on the signatures which they said could have been freehand copies.

The jury took about 45 minutes to reach today's verdict, after which Mr Keane left to celebrate with his legal team.