In a dramatic reversal, California authorities have dropped all bank fraud charges against former Peace Arch Entertainment CEO Gary Howsam. ‘I’m feeling great that it’s over,’ a relieved Howsam said only hours after a federal judge dismissed all charges that stemmed from film finance dealings he had in 1999 and 2000 with the Comerica Bank of California.

Howsam’s legal team doggedly fought for 18 months to establish his innocence. ‘It was a tough road,’ Howsam said of the ordeal that began in 2007 when his former business partner, Harel Goldstein, agreed to testify in court against Howsam. Goldstein’s cooperation included wearing an FBI-supplied wire during a now-infamous steakhouse dinner with Howsam in November 2007.

Three days later, Howsam was arrested at the Los Angeles airport on his way home from the American Film Market. Released on bail, Howsam was then indicted by a U.S. federal grand jury on bank fraud charges. But rather than secure his own plea agreement, the Canadian producer resolved to clear his name and reputation.

Howsam credits his family, friends and defense team for standing by him until the truth in his criminal case could prevail. ‘When your world turns against you and you’re suddenly dealing with the U.S. government, it’s a wheel that you get caught into. And you just fight for your innocence,’ he explained.

Howsam is now free to resume his career as a film producer without a legal cloud over his head. He still retains a minority stake in Peace Arch Entertainment, but is sorry that his legal woes may have contributed to that company’s share price decline.