Glenn Knowles, 35, said he originally lied about what happened to the car because he was embarrassed, The Daily Mail reported. Knowles and Robert Mant, 29, the joint owners of the $195,000 Italian sports car, were both tried in Guilford (England) Crown Court.
The jury came back Thursday with a not guilty verdict. The defense presented evidence that Knowles had misplaced a Mercedes under similar circumstances.
The Mercedes was eventually discovered behind a night club, apparently in the spot where Knowles had parked it. The Lamborghini, although it had a tracking device, disappeared without a trace in December 2008.
Knowles said he took the car from outside Mant's house in the London suburb of Epsom without telling his friend. After the car vanished, he told both Mant and the police it had been stolen.
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