The jurors also acquitted him on the lesser charge of manslaughter.
Russo went to Matthew Salau’s home in Melbourne’s southeast to stop him threatening a female friend over a $5000 debt, the jury was told at the start of the trial.
Prosecutors alleged Russo brought a knife to the June 2024 confrontation and he murdered Salau by intentionally stabbing him to the chest and back.
Russo argued he was not guilty of murder, that Salau was the one to produce the knife and he only stabbed the 30-year-old while defending himself.
The jury was told two days before the death, Salau went to the home of Russo’s female friend, demanding $5000 he was owed.
He returned the next day with a large meat cleaver, once again making demands for the money and followed up the visit with a series of threatening texts.
The woman told Russo about the demands, and he and another man went to Salau’s Frankston home to confront him late on June 10, 2024.
Prosecutors said during the altercation, which lasted four minutes and 21 seconds, Russo stabbed Salau with a knife to the chest and back.
But the jury rejected the prosecution’s claims, instead finding Russo not guilty of both murder and manslaughter.
Salau’s sister broke out into loud sobs after the verdicts were delivered on Thursday morning.
After the jury left the room, Justice Amanda Fox confirmed Russo could leave the dock as he was no longer in custody.
He will walk free from the Supreme Court later on Thursday.
