NOT Guilty .......... I smell BULLSH*T

John Edwards has just been found NOT GUILTY on one of six campaign fraud charges stemming from his 2008 run for President -- the judge declared a mistrial on the remaining counts after jurors deadlocked.

Edwards was found "not guilty" of receiving illegal campaign contributions.

The jury failed to reach a verdict on the other charges -- including three additional counts of illegal campaign contributions, one count of conspiracy, and one count of making false statements.

The jury -- 8 men, 4 women -- reached today's verdict after 9 days of deliberations.

The two-time former Presidential candidate was charged with the six counts of campaign finance fraud for allegedly using nearly $1 million in campaign contributions to hide his mistress Rielle Hunter and their lovechild from the public.

Edwards faced a maximum of 30 years in prison and a $1.5 million fine.

In closing arguments, Edwards' lawyer had told the jury the money to hide his mistress came from a former campaign treasurer and an elderly supporter -- both of whom gave Edwards the money as a gift for his benefit ... not as part of his campaign.

Edwards' lawyer said the money was used to hide his affair from his dying wife, claiming, "John was a bad husband, but there is not the remotest chance that John did or intended to violate the law."

We don't know if prosecutors will push for a retrial.