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The jury announced their verdict just after 2:30 p.m. Friday after deliberating for only six hours when they received the case at 4 p.m. Thursday.
Olsen cried and held the hand of his assistant defense attorney as the verdict was read.
In the middle of the night in late winter 2007, Olsen accused Shonto Pete of trying to steal his truck after a night of drinking in Downtown Spokane and started to chase Pete. Pete said he only asked Olsen for a ride when Olsen started to chase him.
Pete ran into the Peaceful Valley neighborhood just west of downtown.
Olsen said on the witness stand that Pete made threatening gestures toward him so he shot at him.
Pete said Olsen fired on him while Pete was running away.
Pete sustained a wound in the back of the head, but has recovered since.
The Spokane Police Department will conduct an internal investigation of Olsen now that his jury trial is over. Olsen has been on unpaid administrative leave for more than two years while the criminal investigation was performed.