Israel Cruz, Dumes' attorney, said the former Hoosier was found not guilty Tuesday of attempted murder, attempted carjacking and stealing a gun because the jury didn't find testimony by the alleged victim, Keith Jones, credible, The Indianapolis Star reported Wednesday.
Dumes was accused of shooting Jones in the neck on Jan. 11 and trying to steal his car.
In his opening statement Monday, Cruz maintained Jones had threatened Dumes because he wanted Dumes to deliver cocaine to pay off a $225 debt.
"Keith Jones increasingly got mad, pulled out the gun, and Devan defended himself," Cruz said in his opening statement.
A forensic scientist testified the only DNA found on the gun belonged to Jones.
Dumes still faces a charge of possessing illegal drugs and an unlicensed handgun stemming from a July traffic stop.
He played the 2008-09 and 2009-10 seasons for Indiana after previously playing for Eastern Michigan and Vincennes universities.
Attkisson leaves CBS News, reportedly over network's 'liberal bias'
LGBT community has 'bullied the American people': Bachmann