The case dates back to 2011 when Lithuania hosted the EuroBasket. Balčiūnas was later charged with abuse of his official position, fraud and other crimes related to the preparation for the championship.
The LBF secretary general was suspected of having colluded with the federation's chief financial officer and executive director to produce, on behalf of the federation, forged documents on allegedly provided services to the federation and the municipality of Panevėžys, northern Lithuania.
Based on the pre-trial investigation by the Special Investigation Service's Panevėžys branch, funds of Panevėžys City Municipality could have been embezzled through forgery and fraud and later used for the reconstruction of the Romantic Hotel owned by Via Unica.
The hotel's manager Dalia Kuklierienė was suspected of bribing Balčiūnas with a TV.
All persons who stood trial alongside Balčiūnas have also been acquitted.
The ruling is non-final and can still be appealed.
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